S&P: Edgewell Personal Care to negative

Standard & Poor's said it revised its outlook on Edgewell Personal Care to negative from stable.

At the same time, the agency affirmed all of its ratings on the company, including its BB+ corporate credit and senior unsecured note ratings.

Debt outstanding as of Dec. 31, 2015, was $1.86 billion.

The recovery rating on the senior unsecured notes is unchanged at 3, indicating our view that creditors could expect meaningful recovery (at the high end of the 50% to 70% range) in the event of a payment default.

"The outlook revision to negative from stable reflects Edgewell's weaker-than-expected profitability and credit ratios," S&P credit analyst Gerald Phelan said in a news release.

"We attribute these to disruptions following its separation from the Energizer battery business, increased promotional activity, and currency headwinds, all of which contributed to lower sales."

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