S&P affirms Pernod Ricard

S&P said it affirmed its BBB/A-2 long- and short-term issuer credit ratings on Pernod Ricard.

The outlook is positive.

The agency said the affirmation reflects Pernod's solid operating performance and steady reduction in net debt.

The company posted robust results in the financial year ending June, when free operating cash flow was about €1.4 billion, 10% higher than in 2017, S&P noted.

This translated into a reduction in reported net debt to slightly below €7 billion, from €7.8 billion in fiscal year 2017, the agency added.

© 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.