Bouygues: S&P ups credit rating
(CercleFinance.com) - Bouygues gleans 0.
6% against the tide of the CAC40 (-0.2%) after Standard & Poor's raised its long-term rating from BBB+ to A- Friday evening, with a “stable” outlook.
The agency expects that the telecom unit's profitability and cash flow generation will continue to improve. It also expects a favourable environment to continue to support the construction activities.
In its note, S&P also factors in “potential benefits from Bouygues' liquid participation in Alstom”, combined with its view that “Bouygues' shareholding and managerial structures support the group's long-term strategy and sustainability”.
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