S&P ups Remy Cointreau outlook to stable

Standard & Poor's said it revised its outlook on Remy Cointreau SA to stable from negative while the BB- long-term corporate credit rating was affirmed.

"The outlook revision to stable reflects its expectation that stabilizing sales trends and resilient financial flexibility should allow the company to maintain its current financial profile," said S&P credit analyst Michael Seewald.

The stable outlook reflects its view that Rey's cash generation capacity and liquidity should enable the company to maintain its financial profile despite the still difficult market environment and tightened covenants in the group's loan documentation, according to the agency.

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