Equifax Faces a Reckoning Over Its Own Debt Rating
Standard & Poor's changed the outlook on Equifax's credit rating to negative.
Equifax Inc. (EFX) - Get Report , the consumer credit-reporting company, now faces a reckoning over its own debt rating.
Standard & Poor's said late Monday that it changed the outlook on Equifax's credit rating to negative from stable after the Atlanta-based company's disclosure that data were stolen on as many as 143 million consumers, one of the biggest cybersecurity breaches in U.S. history.
Equifax's BBB+ credit rating could be lowered if costs to address the Internet attack mount or if the company's revenue declines as a result of the incident, S&P said in a statement. The score also might fall if further weaknesses are revealed in Equifax's internal controls.
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