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S&P lowers Rent-A-Center view to negative
S&P said it revised the outlook on Rent-A-Center Inc. to negative from stable.
The agency also said it affirmed the company’s BB corporate credit rating.
S&P also said it affirmed the BB+ rating on the secured bank facilities and B+ rating on the unsecured debt.
The recovery rating on the secured debt is 2, indicating 70% to 90% expected default recovery.
The recovery rating on the unsecured debt is 6, indicating 0 to 10% expected default recovery.
The company has a good geographic footprint in the United States, but weakness is expected to continue in the industry, S&P said.
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