S&P also lowered the issuer credit rating on SCH to “BBB” from “BBB+.”
“The rating action reflects our view of SCH’s somewhat uneven recent financial performance trend with ongoing reliance on one-time funds to support overall cash flow and coverage,” said S&P analyst Suzie Desai.
The outlook is stable, reflecting S&P’s view of SCH’s solid enterprise profile, strong partnerships and excellent advocacy efforts.
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