S&P rates Amec Foster BBB-

Standard & Poor’s said it assigned a BBB- long-term corporate credit rating to Amec Foster Wheeler plc, along with BBB- issue ratings to the company’s new euro medium-term note program.

The outlook is stable.

The long-term rating reflects a forecast that Amec Foster’s funds from operations-to-debt will be about 25% in 2015 to 2016 amid challenging conditions in most of its end markets, S&P said.

The ratings also consider the potential volatility in the group’s cash-flow generation capacity and the perceived uncertainty surrounding Amec Foster’s working capital movements, the agency said.

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