We believe public transit ridership will show little improvement until third-quarter 2021, when we expect vaccines to be widely distributed. Continued weakness in Outfront's transit contract revenue will keep leverage above our 6.5x downgrade threshold in 2021, and its ability to reduce leverage below this threshold will depend on the ultimate pace of recovery in public transit ridership. We affirmed our 'B+' issuer credit rating on Outfront Media Inc. The negative outlook reflects the uncertainty surrounding the recovery from the coronavirus pandemic and the risk that structural changes in public transit ridership could keep Outfront's leverage above 6.5x. The negative outlook reflects the uncertainty surrounding the recovery from the coronavirus pandemic and the risk that structural changes in public transit
