Equifax Inc. (EFX) , 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.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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