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S&P revises Acco view downward
S&P said it revised the outlook for ACCO Brands Corp. to negative from stable and affirmed the company’s BB rating.
“Our negative outlook reflects the elevated risk of the company's credit metrics deteriorating as Covid-19 and a recession could disrupt its supply chain and affect the company's cyclical revenues. The company manufactures about half of its products in China, and while workers have started returning to factories, production ramp to normal levels will take some time,” said S&P in a press release.
None of S&P’s other ratings on the company are affected by the revision.
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