Sodexo: first 'Baa1' rating from Moody's
(CercleFinance.com) - Moody's Investors Service on Thursday assigned a first issuer rating of "Baa1" to the French food services group Sodexo, with a "stable" outlook.
In its statement, the agency explained that its rating was based on the group's "solid" economic positioning, as well as the resilience of its markets, which have resisted well during previous economic cycles.
"The Baa1 rating with a stable outlook assumes that Sodexo will be successful in largely offsetting the negative long-term effects of the coronavirus pandemic on its earnings, notably more frequent remote working, although the strategic recovery plan entails execution risks," the analyst said.
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In its statement, the agency explained that its rating was based on the group's "solid" economic positioning, as well as the resilience of its markets, which have resisted well during previous economic cycles.
"The Baa1 rating with a stable outlook assumes that Sodexo will be successful in largely offsetting the negative long-term effects of the coronavirus pandemic on its earnings, notably more frequent remote working, although the strategic recovery plan entails execution risks," the analyst said.
Copyright (c) 2021 CercleFinance.com. All rights reserved.