Elis: Moody's upgrades rating to investment grade

(CercleFinance.com) - Elis announced on Friday that Moody's rating agency had upgraded its long-term credit rating from 'Ba1' to 'Baa3', corresponding to an investment-grade level.


The industrial laundry group says that this rating, which comes with a 'stable' outlook, recognizes its financial strength and the robustness of its profitable growth business model.

Management said that this decision also rewards prospects for margin improvement and accelerated cash generation.

Elis will continue to pursue a financial policy aimed at maintaining its investment-grade status, while pursuing its strategy of profitable growth, with the constant aim of creating value for its shareholders, it stated.

To date, the group's debt is rated investment-grade by all the agencies that follow it, including S&P ('BBB-' with a stable outlook).


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