Equifax just became the first company to have its outlook downgraded for a cyber attack

Kate Fazzini reports:

Moody’s has just slashed its rating outlook on Equifax, the first time cybersecurity issues have been cited as the reason for a downgrade.

Moody’s lowered Equifax’s outlook from stable to negative on Wednesday, as the credit monitoring company continues to suffer from the massive 2017 breach of consumer data.

“We are treating this with more significance because it is the first time that cyber has been a named factor in an outlook change,” Joe Mielenhausen, a spokesperson for Moody’s, told CNBC. “This is the first time the fallout from a breach has moved the needle enough to contribute to the change.”

Read more on CNBC.

I had uploaded this previously, but if you missed it, here is the United States Senate – PERMANENT SUBCOMMITTEE ON INVESTIGATIONS – Committee on Homeland Security and Governmental Affairs report on the 2017 breach.

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