Wolverine Worldwide Gets Negative Outlook from S&P
A week after WWW amended its credit agreement to give it a bit more headroom on its leverage covenant, S&P Global changed its outlook to negative from stable, warning that an elevated debt to EBITDA ratio could persist. S&P’s adjusted leverage for the company is currently above 5x, and is expected to remain there through the end of 2023, before improving to the high-4x range next year. The ratings agency affirmed WWW’s BB- ... Log in to view full article.
