A Standard & Poor's analyst said Thursday that Lexmark's credit rating could soon be downgraded.
Analyst Philip Schrank said the decision links to Lexmark's announcement this week that its fourth-quarter earnings will be lower than expected when announced later this month.
A Lexmark spokesman declined to comment.
S&P will meet with management before making a decision as to whether to lower its rating of BBB on Lexmark's senior unsecured debt.
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S&P rates borrowers from a low of D to as high as AAA. Lower rating can mean paying higher interest rates on debt.
Lexmark's rating of BBB is the last rating above non-investment grade, commonly called junk bond status, though it could be downgraded to BBB- before falling to junk bond status.
If downgraded, Schrank said he expects the company's rating would fall no worse than one notch.