S&P puts Carlson Travel on watch

S&P said it placed the ratings for Carlson Travel Inc. on CreditWatch with negative implications.

“The CreditWatch placement reflects Carlson Travel's vulnerability to declining demand for air travel and hotels due to the Covid-19 pandemic and the limited information on how widespread and drawn out the impact will be. Companies have increasingly imposed restrictions on their employees' nonessential travel over the course of February and March, which has led to the cancellation or postponement of numerous conferences in the first quarter of 2020,” said S&P in a press release.

S&P said that in resolving the CreditWatch it will evaluate new information concerning the spread of the virus and its effect on Carlson’s operating performance, liquidity and cash flows.

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