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Daily Dashboard | Equifax's credit rating dips due to cybersecurity concerns Related reading: Infographics highlight CCPA enforcement, litigation


CNBC reports credit-monitoring service Moody's has downgraded the financial outlook of Equifax from stable to negative based on the company's cybersecurity issues. “We are treating this with more significance because it is the first time that cyber has been a named factor in an outlook change,” Moody's Spokesperson Joe Mielenhausen said. “This is the first time the fallout from a breach has moved the needle enough to contribute to the change.” Equifax remains in recovery from its 2017 breach, and Moody's cited a continued financial toll from the breach in the decision to downgrade. Moody's expects Equifax's cybersecurity expenses and capital investments will be about $400 million the next two years before dropping. Going forward, Moody's said it is working to include cybersecurity consideration into its credit-rating system for all companies.
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