Moody's boosts Linde

Moody's Investor's Service said it upgraded the senior unsecured ratings of Linde AG and the backed senior unsecured ratings of Linde Finance BV to A3 from Baa1.

The subordinated long-term ratings have been upgraded to Baa2 from Baa3. The short-term ratings remain unchanged at Prime-2.

The outlook is stable. This concludes the review for upgrade that began on March 19.

Linde has been able to substantially reduce the gap to its higher-rated industry peers, the agency said, and has a good track record in improving its cost structure.

Linde now aims to get to the lower end of the gearing target range of 2x to 3x net debt to EBITDA, according to the agency.

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