S&P changes TruGreen view to negative

S&P said it revised the outlook for TruGreen LP to negative from stable and affirmed the B rating for the company and Outdoor Home Services Holdings LLC.

“The negative outlook reflects the possibility of a downgrade if consumers cut back on discretionary spending because lawn and shrub care would likely be a lower priority than essential spending on groceries and medical care, leading to declines in TruGreen's most essential spring and summer seasons and causing leverage to spike above 7x,” said S&P in a press release.

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