S&P turns ams-Osram view to negative

S&P said it revised its outlook for ams-Osram AG to negative from stable and affirmed the BB- ratings on the company and its senior unsecured debt.

“After weaker-than-expected preliminary 2022 results, we revised our forecast of ams-OSRAM AG's key credit metrics for 2023. We now anticipate its S&P Global Ratings-adjusted leverage will stay above 3.5x in 2023 with materially negative free operating cash flow (FOCF),” the agency said in a press release. The threshold for the BB- rating is 3.5x.

S&P warned it sees an elevated risk of a downgrade over the next 12 months.

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