Elior: Moody’s lowers its credit rating, the title falls

(Boursier.com) — Elior stumbles 6.3% to 5.9 euros in the morning as Moody’s lowered the credit rating (CFR) of the collective catering group from ‘Ba3’ to ‘B1’ while reducing the associated outlook from ‘negative’ to ‘stable’ ‘. “Today’s downgrade reflects our expectation that Elior’s profitability will recover at a slower pace than originally expected in June 2021 due to the rapid spread of the Omicron variant,” said Eric Kang, senior analyst at Moody’s. “The slower recovery will translate into credit metrics, which will remain outside the parameters of a Ba3 rating in fiscal 2022, a third year in a row, with limited visibility on a return to profitability levels. pre-pandemic in fiscal year 2023.”