S&P Global Ratings changed Health and Happiness International Holdings' (HKG:1112) outlook to negative from stable due to weaker-than-expected Q3 results, according to a Monday release.
The rating agency maintained the company's BB issuer and senior secured issue credit ratings.
The outlook considers potentially greater demand weakness for the company's products in China and the likelihood of the debt-to-EBITDA ratio surpassing the 3.8x estimate for 2025 and the 4x downgrade threshold, S&P said.
The company's deleveraging efforts also face risks from its narrowing baby nutrition business and higher spending in the adult nutrition segment.
Significant changes in the company's debt-to-EBITDA ratio and further shifts in the baby nutrition business contracts could trigger future rating actions.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。