S&P cuts Finning view to negative

Standard & Poor’s said it revised its outlook on Finning International Inc. to negative from stable and affirmed its BBB+ long-term corporate credit and unsecured debt ratings on Finning.

S&P also revised its assessment of the company’s financial risk profile to intermediate from modest and have applied a positive comparable ratings analysis score.

“The outlook revision reflects our view that Finning’s credit measures will remain weak in the next 12 to 18 months, lower than our previous expectations, as revenues and cash flows are pressured in light of weak commodity prices and soft end-market conditions,” said S&P credit analyst Aniki Saha-Yannopoulos in a news release.

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