Moody's alters Alicorp view to negative

Moody's Investors Service said it changed today Alicorp SAA's outlook to negative from stable but affirmed its Baa3 senior unsecured rating.

“The change in Alicorp's outlook to negative reflects Moody's expectation that Alicorp's credit metrics will remain relatively weak for the rating category in the next 12-18 months,” the agency said in a press release.

Moody’s noted Alicorp incurred additional debt in 2021 to finance its working capital requirements which led to higher leverage. Alicorp's debt/EBITDA, as adjusted by Moody's, reached 4.2x as of Dec. 31, up from 3.4x a year before.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.