Fitch becomes latest ratings agency to downgrade SJM Holdings due to weaker performance and mounting debt concerns

Ratings agency Fitch has downgraded SJM Holdings Limited’s Long-Term Foreign-Currency Issuer Default Rating from “B+” to “B-” with a negative outlook, citing the group’s weaker-than-expected operating performance and a deleveraging trajectory that is no longer consistent with its previous rating level. The senior unsecured rating and the rating on outstanding notes issued by SJM’s subsidiary, SJM International Limited, have also been downgraded from “B” to “B-”. A day after Moody’s Ratings also downgraded SJM following the company’s disappointing 3Q26 results announcement , Fitch said the negative outlook reflects material uncertainty over whether SJM can deleverage in line with the agency’s…