Fitch alters Spectrum outlook to negative

Fitch Ratings said it revised the outlook for Spectrum Brands, Inc. to negative from stable and affirmed its ratings for Spectrum and SB/RH Holdings, LLC. The agency also affirmed the secured credit facilities at BBB-/RR1 and unsecured notes at BB/RR4.

“The negative outlook reflects uncertainty around the company's medium-term strategy and business composition, as well as its ability to reverse recent weak operating trends, which increases the risk that EBITDA leverage could remain elevated above 4x beyond FY 2024,” Fitch said in a statement.

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