S&P shifts Authentic Brands view to negative

S&P said it revised the outlook for Authentic Brands Group LLC to negative from stable.

“The negative outlook reflects the heightened uncertainty regarding the impact of the Covid-19 pandemic and the possibility that a prolonged recession in the U.S. could cause ABG to sustain adjusted leverage above 7x in 2021, given the discretionary nature of its products,” said S&P in a press release.

S&P affirmed all its ratings on the company and the B rating on the $1.7 billion first-lien credit facility.

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