S&P changes Compass Group view to negative

S&P said it revised the outlook for Compass Group plc to negative from and affirmed the A ratings on the company and its senior unsecured debt.

“We are revising the outlook on Compass to negative because we expect government initiatives and social distancing measures in continental Europe and North America following the Covid-19 outbreak will significantly harm Compass' performance in FY2020,” said S&P in a press release.

The agency anticipates the shutdown of facilities and the difficult operating environment could affect up to 50% of the group's revenue if the situation does not normalize before the end of the third quarter of 2020.

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