Rexel: Moody's confirms credit rating
(CercleFinance.com) - Moody's Investors Service today confirmed Rexel's CFR rating of Ba2, with a stable outlook.
"Today's rating action reflects our expectation that Rexel will maintain
credit metrics in line with a Ba2 CFR over the next 12-18 months. While
we expect the company's revenue to reduce by around 10% in 2020," said Eric Kang, lead analyst for Rexel.
"The company's revenue and EBITDA will be unlikely to recover to the level of 2019 by 2021 and the company's still high leverage despite some reduction in gross debt" he adds.
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