S&P changes Coty view to negative

S&P said it affirmed Coty Inc.’s B- issuer rating and revised the outlook to negative from stable.

“The negative outlook reflects the risk of a lower rating over the next 12 months if economic disruptions from the second wave of the coronavirus pandemic appear to be longer lasting and more severe than our base case forecast indicates, and the company's leverage remains elevated and free cash flow remains negative,” S&P said in a press release.

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