Schneider: Moody's upgrades rating to A3, stable outlook
(CercleFinance.com) - Moody's has upgraded its long-term rating on Schneider and Schneider's senior unsecured debt ratings from Baa1 to A3, with a stable outlook.
"The rating action follows Schneider's sustained strong operating performance over the last quarters, evidenced by solid organic growth, improving profitability and strong cash generation," Moody's says.
"The company confirmed its guidance to grow 2019's EBITA by 6-8%, despite a softer macro environment. Schneider targets an organic revenue growth of 4-5%".
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"The rating action follows Schneider's sustained strong operating performance over the last quarters, evidenced by solid organic growth, improving profitability and strong cash generation," Moody's says.
"The company confirmed its guidance to grow 2019's EBITA by 6-8%, despite a softer macro environment. Schneider targets an organic revenue growth of 4-5%".
Copyright (c) 2019 CercleFinance.com. All rights reserved.