S&P Global Ratings affirmed the B- issuer credit rating on Diebold Nixdorf Inc. and revised its outlook on the company to negative from stable.
In the rating agency's view, Diebold Nixdorf's liquidity position will likely enable the company to withstand the short-term demand and supply constraints and operational disruption due to the coronavirus outbreak. The uncertain macro environment, however, could significantly pressure hardware sales in 2020. A slower than expected recovery could also delay some DN Now initiatives, which could lead to elevated leverage levels and threaten the company's ability to refinance maturities in 2021 and beyond.
The negative outlook reflects the rating agency's view that the uncertain macro environment could "materially" impact the company's operational performance over the next 12 months and delay cost improvement initiatives and deleveraging.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.