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S&P changes Ashland Global view to negative
S&P said it revised the outlook for Ashland Global Holdings Inc., Ashland LLC and Hercules LLC to negative from stable.
“We expect the current macroeconomic environment and uncertainty around the pandemic to hurt demand within some of Ashland’s end markets. S&P Global Ratings projects GDP to contract 5.2% in the U.S. and 7.3% in the eurozone in 2020,” S&P said in a press release.
S&P also affirmed the BB+ issuer and issue-level ratings on the unsecured debt and on the subordinated notes at Hercules. The 3 recovery ratings on both are unchanged.
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