Neogen's Credit Rating Downgraded Due to High Debt

S&P Global Ratings downgrades Neogen Corporations credit rating due to increased debt from acquiring 3Ms food safety business, resulting in higher costs and lower profit margins. Despite broader economic challenges, S&P predicts Neogen will generate significant free cash flow in the next two years, but major debt reduction is not expected.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.