Fitch revises Stericycle view to negative

Fitch Ratings said it revised its outlook for Stericycle Inc. to negative from stable, citing weaker-than-expected operating results and higher leverage.

Fitch said the potential for a steep decline in paper recycling prices, ongoing cost pressures and the risk of a leverage covenant breach weigh on Stericycle’s stand-alone credit profile.

“The company has taken steps to moderate these concerns with measures to address pricing pressures and better identify and execute cost saving initiatives,” Fitch said in a press release.

The agency affirmed the company’s long-term issuer default rating at BB.

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