Moody's lifts Agrokor view to positive

Moody's Investors Service said it changed the outlook on Croatia-based Agrokor DD's B2 corporate family rating to positive.

The agency said the change reflects the company's recent initiatives to improve the structure of its balance sheet, notably by extending its debt maturity profile with longer-dated instruments to alleviate short-term refinancing risk; the cash injection and broadening of the shareholder base following the recently announced equity participation of the EBRD (Aaa stable), with which financial targets as well as corporate governance policies have been agreed; and a strengthening business profile, which should enable management to improve the financial profile of the company as it consolidates past acquisitions.

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