Pernod Ricard: S&P Global Ratings upgrades group.
(CercleFinance.com) - The credit rating agency S&P Global Ratings yesterday upgraded its appreciation of the debt of the French spirits giant Pernod Ricard, remaining optimistic towards it.
Over its last financial year, Pernod Ricard continued the deleveraging trend that began in 2016, thanks to sound cash generation and a conservative financial policy, a document stated. The rating assigned to the group's long-term debt has therefore been nudged up a notch from "BBB-" to "BBB".
In addition, S&P Global Ratings has a "positive" outlook on this rating, which means that its appreciation of the group's debt could be raised again in the next 12 to 24 months if (the group) continues to generate significant free operating cash flow and devotes a significant part of this to its deleveraging.
Copyright (c) 2017 CercleFinance.com. All rights reserved.