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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.

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