S&P: Veyance outlook negative

Standard & Poor's said it revised the outlook on Veyance Technologies Inc., formerly EPD Inc., to negative from stable and affirmed its B long-term corporate credit rating.

"The outlook revision reflects the likelihood that Veyance's profitability and cash flow protection measures could weaken in the near term due to further deterioration in the company's end markets," S&P analyst Sarah Wyeth said in a statement.

Ratings reflect the firm's highly leveraged capital structure and weak business profile as a global manufacturer of rubber and thermoplastic products, the agency said.

Adjusted debt-to-EBITDA ratio is more than 8x.

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