Earlier this month, Fitch Ratings said the medium-term outlook for Concentrix’s ratings is negative, citing disruption risks posed by AI. The firm — which in recent years embarked on a series of acquisitions — is taking longer than previously expected to reduce its debt burden as it also grapples with industry softness, higher offshore costs and excess capacity, Fitch said. The bond grader rates the company at BBB, or two steps above junk, while Moody’s Ratings and S&P Global Ratings have the company a notch lower.