Fitch Downgrades Lexmark to 'BB' on Acquisition Close; Outlook Negative

CHICAGO–(BUSINESS WIRE)–Fitch Ratings has removed from Rating Watch Negative and downgraded the Long-Term Issuer Default Rating (IDR) for Lexmark International Inc. (Lexmark) to ‘BB’ from ‘BBB-‘. Fitch has also assigned a ‘BB+/RR1’ rating to Lexmark’s existing senior notes, which Fitch believes will become secured under the terms of the bond indenture. The Rating Outlook is Negative. Fitch’s actions affect $700 million of debt, excluding debt related to the acquisition. A full list of rating
Source: BusinessWire-Primary

Fitch Downgrades Lexmark to 'BB' on Acquisition Close; Outlook Negative