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S&P trims JMC Acquisition
S&P said it lowered its issuer credit rating on JMC Acquisition Corp. to B- from B.
At the same time, the agency lowered its rating on the company's senior secured first-lien credit facilities to B- from B.
The outlook is negative.
S&P said it expects a lower level of demand for JMC in the near term due to the spread of Covid-19.
“We no longer believe the company will reduce leverage to the mid-6x range in 2020, in line with our original expectations,” S&P said in a news release.
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