S&P puts EmployBridge on watch

S&P said it placed all its ratings, including the B issuer rating, for EmployBridge LLC on CreditWatch with negative implications.

“The CreditWatch placement reflects EmployBridge’s vulnerability to an economic downturn stemming from the coronavirus pandemic and our uncertainty about the duration and extent of the outbreak. U.S. companies are increasingly closing their manufacturing facilities and laying off workers,” said the agency in a press release.

In resolving the CreditWatch placement, S&P said it will evaluate any information it receives regarding the spread of the coronavirus and the disease’s effects on EmployBridge’s demand, liquidity and debt leverage.

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