S&P changes Alera Group view

S&P said it revised the outlook on Alera Group Intermediate Holdings Inc. to negative.

Alera Group's credit metrics could deteriorate due to Covid-19-related business disruptions and the potential for a protracted economic downturn, the agency said.

“We are revising our outlook on Alera to negative from stable and affirming our B issuer credit and debt ratings,” the agency said in a news release.

“The negative outlook reflects our view that Alera has limited capacity for underperformance at the current rating and that the pandemic introduces additional uncertainty to the company's operating performance in 2020.”

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