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S&P rates MMM Holdings
Standard & Poor's said it assigned a B- local-currency long-term counterparty credit rating to MMM Holdings Inc., along with a B- foreign-currency long-term counterparty credit rating.
The outlook is negative.
The agency said it is correcting the rating on MMM Holdings by assigning the local-currency counterparty credit rating. Previously, S&P said the company incorrectly only had a B- foreign-currency counterparty credit rating.
The outlook is negative.
The negative outlook reflects the potential for a downgrade to the CCC category during the next 12 months if the company cannot sustain its earnings stabilization, S&P said.
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