S&P changes LSFX Flavum view to negative

S&P said it changed the outlook for LSFX Flavum (Esmalglass-Itaca-Fritta) to negative from stable and affirmed the B issuer rating.

“Lockdown measures affect Esmalglass-Itaca-Fritta's production and demand in end markets.The group's Spanish manufacturing sites have shut down for two weeks, and the Brazilian sites for three weeks in April. S&P Global Ratings believes demand from ceramic tile manufacturers will decline over the coming months, although uncertainties remain on the magnitude at which Esmalglass-Itaca-Fritta will be affected,” said S&P in a press release.

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