Arkema: Moody's upgrades credit rating
(CercleFinance.com) - Moody's has announced that it is upgrading its long-term issuer rating on Arkema from "Baa2" to "Baa1" with a "stable" outlook (vs.
"positive" previously), highlighting "the continued rebalancing of Arkema's portfolio towards specialty chemicals".
The rating agency appreciates this trend, as these specialty chemicals "tend to be less prone to volatile cyclical swings and carry a higher EBITDA margin".
Moody's adds that its "Baa1" rating also takes into account "a conservative financial policy underpinned by a solid liquidity profile and historically continuous positive free cash flow generation".
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"positive" previously), highlighting "the continued rebalancing of Arkema's portfolio towards specialty chemicals".
The rating agency appreciates this trend, as these specialty chemicals "tend to be less prone to volatile cyclical swings and carry a higher EBITDA margin".
Moody's adds that its "Baa1" rating also takes into account "a conservative financial policy underpinned by a solid liquidity profile and historically continuous positive free cash flow generation".
Copyright (c) 2019 CercleFinance.com. All rights reserved.