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S&P revises UPL view to negative
S&P said it revised its outlook on UPL Corp. to negative from stable.
“We revised the outlook on UPL to negative to reflect our view that the company's elevated adjusted debt levels may delay its deleveraging, leaving limited headroom for the current rating,” S&P said in a press release.
The agency also affirmed the BBB- long-term issuer credit rating on UPL, the BBB- senior unsecured issue rating and the BB issue rating on UPL's subordinated perpetual securities.
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