Fitch alters Victoria view to negative

Fitch Ratings said it revised Victoria plc’s outlook to negative from stable.

“The negative outlook highlights the uncertainty of the coronavirus pandemic’s impact on Victoria’s performance, which remains highly dependent on consumer spending, levels of disposable income and GDP growth. The pandemic has negatively impacted the building products sector’s trading conditions, and Fitch sees potential for further weakening in consumer confidence, which may limit residential renovation activity,” the agency said in a press release.

Fitch also affirmed the company’s long-term issuer default rating at BB- and senior secured notes at BB/RR2.

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