S&P cuts Edgewell outlook to negative

S&P said it revised its outlook for Edgewell Personal Care Co. to negative from stable and affirmed the ratings, including the BB issuer and senior unsecured note ratings. The recovery rating remains 3.

“The outlook revision to negative reflects Edgewell's weaker-than-expected credit metrics. Despite organic growth driven by distribution gains and recovery in consumption, especially in the sun care segment, the company's year-to-date adjusted EBITDA margin of 13% was below our expectations. This is mainly due to foreign currency and inflationary headwinds, including higher transportation, labor, and commodity costs,” S&P said in a press release.

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