Bulletin: CrowdStrike Holdings Inc.'s Credit-Related Fallout From Outage Is Currently Unknown

SAN FRANCISCO (S&P Global Ratings) July 19, 2024—S&P Global Ratings said today that there is not enough information available yet about the financial and reputational risk to CrowdStrike Holdings Inc. to merit a rating action, following a widespread outage caused by a software update to CrowdStrike's Falcon agent. The incident resulted in an outage with Microsoft Windows, often causing them to fail while booting. The company has said the issue wasn't a cybersecurity incident, that it has identified the issue, and provided a fix for it. Nonetheless, the outage has affected critical infrastructure worldwide including airports, hospitals, financial institutions, and broadcasters. Early indications suggest that applying the fix could be a manual process, and could take time to fully propagate.

...July 19, 2024 SAN FRANCISCO (S&P Global Ratings) July 19, 2024--S&P Global Ratings said today that there is not enough information available yet about the financial and reputational risk to CrowdStrike Holdings Inc. to merit a rating action, following a widespread outage caused by a software update to CrowdStrike's Falcon agent. The incident resulted in an outage with Microsoft Windows, often causing them to fail while booting. The company has said the issue wasn't a cybersecurity incident, that it has identified the issue, and provided a fix for it. Nonetheless, the outage has affected critical infrastructure worldwide including airports, hospitals, financial institutions, and broadcasters. Early indications suggest that applying the fix could be a manual process, and could take time to fully propagate. We expect that it could take months to fully understand the near and long term implications for CrowdStrike. CrowdStrike has outperformed our expectations at the current rating level and...

Bulletin