S&P changes Alfa Laval to stable

S&P said it revised its outlook on Alfa Laval AB to stable from negative.

At the same time, the agency affirmed the BBB+ long-term issuer credit rating and the BBB+ issue rating on the company's senior unsecured debt.

S&P said the revision follows Alfa Laval's strong order intake in 2017 and first-quarter 2018, when orders increased by 14% and 16%, respectively, which the agency believes will lead to improving profitability and cash flow generation over 2018 and 2019.

The agency said it also believes that Alfa Laval's marine environment applications in ballast water treatment and sulfur oxide reduction will continue to drive growth in the near to medium term in light of new environmental regulations.

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