Wendel: Moody's confirms 'Baa2' rating, stable outlook
(CercleFinance.com) - On Wednesday Moody's maintained its "Baa2" credit rating on Wendel's debt, but said the investment company's new strategy deviated from its traditionally conservative approach.
Moody's explains that Wendel's intention to invest some two billion euros could well raise its market value leverage (MVL) ratio to nearly 20%, compared with 10% over 2018-2022.
However, the rating agency stresses that the group has the possibility to manage its debt at the holding structure level, for example by taking dividends from subsidiaries with low debt levels, such as Constantia Flexibles or Stahl.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Moody's explains that Wendel's intention to invest some two billion euros could well raise its market value leverage (MVL) ratio to nearly 20%, compared with 10% over 2018-2022.
However, the rating agency stresses that the group has the possibility to manage its debt at the holding structure level, for example by taking dividends from subsidiaries with low debt levels, such as Constantia Flexibles or Stahl.
Copyright (c) 2023 CercleFinance.com. All rights reserved.