S&P changes Traviata view to negative

S&P said it revised the outlook for Traviata to negative from stable but affirmed its B ratings.

The outlook reflects the view Traviata's credit metrics will erode significantly in 2020, with S&P Global Ratings-adjusted debt to EBITDA increasing to 7.8x-8.3x, as a result of the pandemic on the operating performance of Axel Springer, Traviata's sole asset, S&P said.

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