...September 24, 2019 - LifeScan Global Corp., a blood glucose monitoring (BGM) devices manufacturer, underperformed our expectations in the first half of 2019 primarily as a result of market share loss in the U.S. both to the newer competing technology--constant glucose monitoring (CGM)--and within its core BGM category. - In addition, the company faces various unfavorable conditions in other international markets. We believe the company's competitive position has weakened and we expect these headwinds to persist into 2020. - We now project more rapid revenue declines, and our adjusted leverage measure rising to around 5x in 2019-2020, in contrast to our previous expectations of about 4x. We believe leverage will remain at these levels helped by progress in implementing the company's cost-saving plan, and by the high level of mandatory debt amortization. - We are lowering our issuer credit rating on LifeScan to 'B' from 'B+'. The outlook is negative. We are also lowering our issue-level ratings...
