Moody’s changes Cabot view to negative

Moody’s Investors Service said it revised the outlook for Cabot Corp. to negative from stable and affirmed the company’s Baa2 senior unsecured rating.

“The negative outlook reflects the expected deterioration in Cabot's operating performance, with volume declines, earnings erosion and a spike in debt leverage in 2020 before a likely recovery next year,” Moody’s said in a press release.

The agency said it expects Cabot's adjusted debt leverage to rise to the range of 3x-4x times in 2020, up from 2.3x at the end of December.

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