S&P revises SWF outlook to negative

S&P said it revised its outlook for SWF Holdings I Corp. to negative from stable and affirmed all its ratings on the company, including the CCC senior unsecured rating.

“The negative outlook reflects our expectation for credit metrics to deteriorate over the next 12 months due to the challenging macroeconomic environment. We believe Springs' sales and profitability will deteriorate over the next 12 months as weakening economic activity and sustained high inflation translates into eroding consumer confidence and lower demand for the company's products. We previously expected leverage to be sustained in the 8x area in 2022, but now believe its leverage could approach 10x,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.