S&P changes Cook & Boardman view downward

S&P said it revised the outlook for Cook & Boardman Group LLC to negative from stable and affirmed the B issuer credit rating on the company.

“The negative outlook on Cook & Boardman reflects our view that the company will report debt to EBITDA in the 6.7x-7.2x range, FFO to debt in the 5%-10% range, and interest coverage in the 2x-2.5x range as of the end of 2020. We expect the coronavirus pandemic to depress Cook & Boardman's end-market demand in the short term, at a minimum,” said S&P in a press release.

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