S&P trims Keter Group

S&P said it lowered to B- the long-term issuer credit and issue ratings on Keter Group BV.

The outlook is stable.

“The downgrade follows Keter's weaker-than-anticipated operating results in 2018, in the context of a difficult competitive and retail environment, and our expectation that Keter may continue to face further challenges in 2019,” S&P said in a news release.

“We think the seasonality of the business and the early stages of the turnaround plan may prevent a strong improvement in free cash flow and credit metrics by year-end 2019.”

© 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.