S&P changes Diamond (BC) view to negative

S&P said it revised its outlook on Diamond (BC) BV (Diversey) to negative from stable and affirmed its B issuer credit and issue-level ratings.

“Diamond has incurred higher-than-expected costs related to its separation from Sealed Air Corp., and costs related to setting the company up on a standalone basis,” the agency said in a news release.

“This has led to the company performing below our expectations, with credit measures moderately weaker than we had expected a year ago. The negative outlook reflects uncertainty around these transformation-related costs and the amount and timing of additional expenditures that may be required to establish Diamond as a standalone entity.”

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