S&P alters Access CIG view to negative

S&P said it revised the outlook for Access CIG, LLC to negative from stable and affirmed all its ratings.

“The negative outlook reflects uncertainty around Access' operating performance amid expected earnings volatility because of the Covid-19 pandemic and an already elevated leverage profile, as well as an aggressive debt-funded acquisition strategy, which could keep leverage above 7.5x through 2021,” S&P said in a press release.

S&P said it forecasts organic revenue declines of around 7% in 2020 and adjusted leverage in the low-8x area, above the agency’s 7.5x downgrade threshold.

© 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.