Fitch Downgrades Stepstone's IDR to 'B'; Outlook Stable
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Fitch Ratings has downgraded Stepstone's Long-Term Issuer Default Rating to 'B' from 'B+', citing high leverage and weak coverage. Despite macro-induced revenue declines, Stepstone's solid business profile and high EBITDA margins support a stable outlook. Fitch forecasts gradual revenue recovery and expects Stepstone to maintain financial discipline, with no major M&A planned. The company faces cyclical impacts on job listings, but its strong market position and technological investments may support future upgrades.
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