S&P changes SKF outlook to negative

Standard & Poor's said it revised its outlook on SKF AB to negative from stable.

At the same time, the agency affirmed its BBB+ long-term corporate credit rating on the company.

S&P said the outlook revision reflects its view that, in the currently uncertain business environment, there is a one-in-three possibility that SKF's financial measures will not improve over the next 12 months to levels that the agency considers commensurate with the current rating. This would include adjusted funds from operations to debt of 30%-40% and a ratio of free operating cash flow to debt of about 20%.

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