Moody's lifts Ansell view to positive

Moody's Investors Service said it revised to positive from stable the Ba1 senior unsecured outlook for Ansell Ltd. and its supported subsidiaries.

The agency said the change in outlook is driven by sustained improvements in Ansell's operating profile and credit metrics.

Affirmed ratings include Ansell's senior unsecured rating of Ba1, subordinated debt rating of Ba2, issuer rating of Ba1, Pacific Dunlop USA, Inc.'s senior unsecured rating of Ba1, Pacific Dunlop Holdings Inc.'s senior unsecured rating of Ba1 and its short-term rating of not Prime.

The Ba1 rating reflects solid brand awareness and long-term relationships with customers underpin revenues and operating margins, management's commitment to sustaining a sound financial profile and geographic diversity, the agency added.

Moody's noted the rating also considers Ansell's commitment to its existing asset base and ability to derive constant revenue and earnings streams as well as the fragmented nature of markets restricts Ansell's pricing power and ability to grow revenue.

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