(CercleFinance.com) – Argan announces the increase to ‘Stable’ of the outlook on its long-term issuer rating ‘BBB-‘ assigned by S&P Global Ratings.
S&P Global Ratings has raised Argan’s ‘BBB-‘ rating outlook from ‘Negative’ to ‘Stable’. This review of the credit rating comes after the successful capital increase of 150 ME, launched and finalized on April 23, as part of the strengthening of the Foncière development and debt reduction plan.
‘This increase reflects the relevance of the Group’s strategy of controlled growth and strong debt reduction as well as the growing confidence of the financial markets in the Argan signature, reinforced by regular and transparent financial communication,’ indicates the group.
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