Moody's shifts Reckitt Benckiser view to stable

Moody's Investors Service said it changed Reckitt Benckiser Group plc’s outlook to stable from negative.

The outlook reflects the company's recent strong performance and better debt metrics, although still at the high end of the range expected for its A3 rating, as well as expectations of limited debt-funded M&A activity over the next 12-18 months, Moody’s said.

“The stable outlook also reflects Moody's expectations that the ongoing investments to restore mid-single-digit growth in the longer term (from low-single digits in 2021 on a like-for-like basis) will be successful, and that operating margins will remain in the mid-twenties,” the agency said in a press release.

Moody’s affirmed Reckitt Benckiser’s A3 ratings and the A3 ratings of its subsidiaries Reckitt Benckiser Treasury Services (Nederland) BV, Reckitt Benckiser Treasury Services plc and Mead Johnson Nutrition Co.

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