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S&P downgrade adds to SNC-Lavalin’s woes
Canada’s troubled SNC-Lavalin has been hit with a Standard & Poor’s (S&P) downgrade as the ratings agency warned of the risk of weaker profit in the wake of corruption scandals surrounding the firm’s operations in Libya, Algeria, Tunisia and Bangladesh. S&P cut its ratings from BBB+ to BBB with negative outlook.
Credit value: 4