Moody’s stabilizes Reno De Medici view

Moody’s Investors Service said it revised its outlook for Reno De Medici SpA to stable from negative affirmed the B2 ratings on the company and its €445 million senior secured floating-rate notes maturing in 2026.

Moody’s noted RDM’s 2022 revenue swelled 33% to €1.2 billion because of the energy surcharges it added in September in addition to regular price increases.

“The stable outlook reflects Moody's expectation that RDM's profitability will remain at a relatively high level in the next 12-18 months compared to previous years, even though well below the record-high level of 2022, allowing credit metrics to remain solid for the rating category. The outlook assumes that RDM will maintain a good level of liquidity while considering organic and inorganic growth options,” the agency said in a press release.

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