S&P shifts Voith view to negative

S&P said it revised the outlook for Voith GmbH & Co. KGaA to negative from stable and affirmed the company’s BBB- rating.

“The negative outlook indicates that a prolonged and more-intense downturn may prevent Voith from achieving funds from operations (FFO) to debt approaching 45% in the financial year (FY) ending Sept. 30, 2021. This could also occur if it cannot generate meaningful free operating cash flow (FOCF) or faces renewed restructuring costs,” S&P said in a press release.

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