Moody’s upgrades Elis’ credit rating outlook to ‘positive’

PARIS (Agefi-Dow Jones)–The rating agency Moody’s announced on Monday that it has raised the outlook for the “corporate family” Ba2 rating of the industrial laundry group Elis to “positive”, against “stable” previously. The move reflects both the group’s strong operating performance during the pandemic and the gradual recovery of the hospitality division expected by the agency, said Moody’s analyst Eric Kang. This recovery “could allow the company to return to credit parameters in line with a Ba1 ‘corporate family’ rating over the next 12 to 18 months”, he added. ([email protected]) editor: VLV

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March 14, 2022 06:08 ET (10:08 GMT)