Great Lakes Receives S&P Global Ratings Upgrade to B, Outlook Stable

Great Lakes Dredge & Dock Corporation's issuer credit rating has been upgraded to "B" from "B-" by S&P Global Ratings. The upgrade is due to improved revenues, earnings, and expanding margins, as well as decreasing capital expenditures that will support healthy free cash flow generation over the next couple of years. The stable outlook reflects S&P's expectation of continued revenue growth and margin expansion through 2026 and increasingly positive free cash flow.