S&P changes Gates Global view to negative

S&P said it revised the outlook for Gates Global LLC to negative from stable and affirmed the B+ issuer rating.

“Our negative outlook reflects the risk that a more precipitous decline in industrial and automotive end markets may constrain profitability and weaken cash flow generation causing FOCF to debt to fall below 5% and credit measures to diminish beyond our current forecast,” said S&P in a press release.

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