S&P Global Ratings Downgrades ACCO Brands' Rating Due to Ongoing Sales Decline

S&P Global Ratings has downgraded ACCO Brands Corp.'s credit rating from 'BB-' to 'B+' due to ongoing sales declines. The rating agency also lowered the rating on ACCO’s $575 million senior unsecured bonds from 'B+' to 'B'. The company's outlook remains stable.

ACCO Brands Corp., based in the U.S., reported a 9.1% decline in net sales for the fiscal year ending December 31, 2024. Despite targeting various growth opportunities, the company struggled to stabilize its business. S&P Global Ratings forecasts continued sales declines for ACCO in the 2025 and 2026 fiscal years. The downgrade reflects the challenging operational environment, with sales decreases of 12% and 4.4% in the U.S. and international segments, respectively.