S & p Global ratings cut THG outlook to negative from stable?25 May 2022 13:12
S&P Global Ratings on Monday lowered its outlook on THG (THG) to negative from stable and confirmed its B long-term issuer credit rating.
The change in outlook came after the British online retailer's saw no material improvement in earnings due to input and transport cost inflation, negative foreign exchange movements and higher exceptional costs.
The rating agency expects THG to face further negative impact on earnings from the inflationary pressure and weak consumer confidence, which in turn will affect the group's liquidity.
THG shares were down over 4% on Monday's close.