Newell Brands’s Debt Ratings Outlook Lowered

S&P Global Ratings revised its debt ratings outlook on Newell Brands Inc. to negative from stable. The revision follows Newell’s move to lower its earnings and cash flow guidance significantly for the remainder of the year because of weak macroeconomic conditions, volume declines due to orders pullback from key customers, and continued inflationary pressures.

Newell Brands Launches Debt Offering

Newell Brands announced the public offering of $500 million aggregate principal amount of 6.375 percent notes due 2027 and $500 million aggregate principal amount of 6.625 percent notes due 2029.

Belk Names Chief Executive Officer

Belk announced that Don Hendricks has been named chief executive officer of the department store chain. Hendricks has served as interim CEO since May 2022 and previously served as president and chief operating officer.