S&P shifts S.C. Johnson view to negative

S&P said it revised its outlook for S. C. Johnson & Son Inc. to negative from stable and affirmed the A issuer rating.

“Extraordinary input cost inflation, supply chain disruptions, and a large acquisition resulted in higher leverage, above our downgrade threshold. For the fiscal year ended July 1, 2022, the company's S&P Global Ratings-adjusted leverage increased to about 2.4x versus 1x in 2021. We believe it will take at least 18 to 24 months before the company's leverage decreases below 2x,” the agency said in a press release.

S&P warned it could downgrade the company over the next two years unless it drives leverage below 2x and keeps it there.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.