S&P revises Springer Nature view to negative

S&P said it revised the outlook for Springer Nature to negative from stable and affirmed its B+ rating on the company and its credit facilities.

The agency cited the effect of the coronavirus on the company’s business and said it forecasts the group’s revenue will decline by up to 10% in 2020 versus 2019.

“The negative outlook reflects our view that Springer's adjusted debt to EBITDA will increase to elevated levels of 9.7x-10.2x (7x-7.5x excluding shareholder loans) in 2020, amid rising uncertainty around the impact from the Covid-19 pandemic,” S&P said in a press release.

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