S&P rates Dassault Systemes A-

S&P said it assigned an A- rating to Dassault Systemes SA on its strong balance sheet, financial flexibility and prudent financial policy.

The company plans to acquire Medidata Solutions through a mostly debt and cash on hand transaction for about $5.8 billion.

“The outlook is stable because we expect Dassault Systemes will post about 10% organic revenue growth over 2019-2021, with adjusted EBITDA margins strengthening above 34% and sharp deleveraging toward adjusted debt to EBITDA below 2.0x by 2021 from 2.8x pro forma in 2019,” said S&P in a press release.

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