Capgemini: S&P downgrades credit rating
(CercleFinance.com) - S&P Global Ratings has announced that it has downgraded its credit rating on Capgemini from "BBB" to "BBB-", with a "stable" outlook, after the Paris Court of Appeal's approval of its acquisition of Altran.
The rating agency expects the new group's pro-forma adjusted debt-to-EBITDA ratio to decline to around 3.6 times in 2020, before falling to three times or less thereafter.
The agency's stable outlook reflects its view that the group's solid balance sheet and generation of cash flow will enable Capgemini to manage the acquisition of Altran and reduce its debt, despite the current economic turbulence.
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