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S&P changes Chromaflo view
S&P said it changed the outlook on ASP Chromaflo Holdings LP to negative from stable.
“A global economic slowdown in 2020 will likely hurt demand and earnings for U.S.-based ASP Chromaflo Holdings LP,” the agency said in a news release.
S&P said that while it expects the company's credit metrics to remain appropriate for the current rating, the agency believes credit risks have heightened.
The agency affirmed the B- issuer credit rating on the company. The B issue-level and 2 recovery ratings on the company's first-lien debt and the CCC issue-level and 6 recovery ratings on the company's second-lien debt are unchanged.
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