Fitch revises Intrum outlook to negative

Fitch Ratings said it revised the outlook on Intrum AB to negative from stable and affirmed its long-term issuer default rating at BB.

“The revision of the Outlook reflects Fitch's view that Intrum's leverage (defined by management as net debt/cash EBITDA) will remain above the stated medium-term target range of 2.5x to 3.5x for longer than previously anticipated. Fitch expects Intrum's end-3Q22 net leverage ratio to stand at around 4.1x compared with 3.8x at end-1Q22, pro forma for an increase in net debt related to negative adjustments in an Italian SPV reported on Nov. 24, 2022.

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