S&P puts Al Alpine AT Bidco on watch

S&P said it placed its ratings for Al Alpine AT Bidco on CreditWatch negative.

“The CreditWatch placement reflects that we could lower the rating due to difficult industry conditions because of Covid-19 and weaker commodity prices,” S&P said in a press release.

The placement also indicates the agency would lower the rating by one notch if over the next 90 days margins look likely to deteriorate materially in 2020, below the previous expectations of 16%-17% in 2020 and 2021, S&P said.

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