Moody’s lowers Elior

Moody's Investors Service said it downgraded Elior Group SA's corporate family rating to B2 from B1, the probability of default rating to B2-PD from B1-PD and the rating on the guaranteed senior unsecured notes due 2026 to B2 from B1.

The ratings are on review for downgrade.

The outlook was changed to ratings under review from stable.

“Today's downgrade and the review for downgrade reflects Moody's expectations that the increasing inflation will have a material negative effect on Elior's cost base, and will impact its operating performance and overall liquidity,” the agency said in a news release.

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