S&P: ThyssenKrupp outlook negative

Standard & Poor's said it revised the outlook on ThyssenKrupp AG to negative from stable due to the sharp deterioration in market conditions in steel and related industrial sectors.

The agency affirmed the BBB long-term corporate credit and debt ratings, and lowered the short-term corporate credit and debt ratings to A-3 from A-2.

"The outlook revision reflects our view that there is more downside risk in the long-term rating, due to the sharp weakening of the macroeconomic environment," S&P analyst Alex Herbert said in a statement.

"The negative outlook reflects the possibility of a one-notch lowering of the long-term rating within the next 18 to 24 months if the group's credit metrics weaken below our ratings guidance," Herbert said.

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