Newell Brands Downgraded to Junk Rating by S&P Global
The parent of Coleman, Contigo, Marmot and other outdoor brands’ issuer credit rating and rating on its unsecured notes were cut to BB+ from BBB by S&P. The ratings agency also gave NWL a negative outlook, after it reported weaker than expected 2022 results and poor guidance for 2023. Leverage ended the year at about 4.6x, and is expected to inch higher towards 4.8x ... Log in to view full article.
