S&P Global Adds Atmus Filtration to SmallCap 600, Upgrades Echo Global Outlook to Positive
S&P Dow Jones Indices will add Atmus Filtration Technologies to the SmallCap 600 on April 9, replacing Air Lease Corp. S&P Global Ratings affirmed a B- rating for Echo Global Logistics, raised its outlook to positive and sees the post-acquisition debt-to-EBITDA ratio falling to about 6x within 12 months.
1. Index Rebalance
On April 9, S&P Dow Jones Indices will replace Air Lease Corp. with Atmus Filtration Technologies in the S&P SmallCap 600. This change reflects ongoing portfolio adjustments based on market capitalization and liquidity criteria and is expected to influence index-linked product flows for Industrials.
2. Echo Global Ratings Review
S&P Global Ratings kept Echo Global Logistics’ corporate rating at B- but shifted the outlook from stable to positive following its ITS Logistics acquisition. The agency projects the combined company’s debt-to-EBITDA ratio will decline from about 7.1x to the low 6x range within 12 months, driven by an estimated $114 million EBITDA boost from ITS.