S&P changes TNS view to negative

S&P said it revised the outlook for TNS Inc. to negative from stable and affirmed all the company’s ratings, including the B issuer rating.

“The outlook revision reflects our view that Covid-19 could have a significant impact on payment transaction volumes, which could push leverage above 6x from 5.4x as of the end of fiscal 2019,” S&P said in a press release.

With many non-essential stores closed the company’s internet protocol-based and dial-based network services point-of-sale card payment transaction volumes are down by half, S&P said.

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