S&P Global on June 10 downgraded CareerBuilder LLC’s issuer credit rating to B- from B, owing to prolonged pressure revenue performance.
CareerBuilder’s marketing investment will cause its revenue and profitability to remain pressured over the next six months. Consequently, S&P issued the company a negative outlook.
In May, Moody’s had also downgraded CareerBuilder’s corporate family rating and senior secured rating to Caa1 and B3 respectively.
READ MORE: Kantar Issued Downgrades Over Its $900 Million Debt Acquisition
CareerBuilder’s Marketing Investment
CareerBuilder reported several updates to its Talent Acquisition Suite as part of a three-year, $300 million investment in September 2020.
According to the report, the investment is solely…