DBRS rates Elis BBB (low)

DBRS said it assigned an issuer rating of BBB (low) with a stable trend to Elis SA.

The ratings reflect Elis’s industry leading position, strong brand name recognition in its primary markets, along with its efficient and large scale operations, DBRS said.

The company's diversification in terms of its customer base and end-markets, as well as the long-term nature of the contracts and high renewal rates, lead to strong revenue visibility and support the expectation that the company will generate surplus cash flows to de-leverage, the agency said.

The ratings also were driven by the company’s exposure to markets that have limited organic growth prospects, DBRS said.

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