Danone: S&P upgrades outlook to 'Stable'
(CercleFinance.com) - S&P Global Ratings announced on Tuesday that it has upgraded its outlook on Danone from "negative" to "stable," maintaining its long-term "BBB+" credit rating and its short-term "A-2" rating.
The rating agency believes that the agri-food group's credit parameters will improve faster than previously expected in 2018-19, thanks to the proceeds from the sale of a 14% stake in Yakult Honsha.
S&P also highlights that it expects strong free cash generation over the next two years, as well as the group's coherent financial policy - both in terms of shareholder remuneration and acquisitions.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The rating agency believes that the agri-food group's credit parameters will improve faster than previously expected in 2018-19, thanks to the proceeds from the sale of a 14% stake in Yakult Honsha.
S&P also highlights that it expects strong free cash generation over the next two years, as well as the group's coherent financial policy - both in terms of shareholder remuneration and acquisitions.
Copyright (c) 2018 CercleFinance.com. All rights reserved.