Moody's revises GEA view to stable

Moody's Investors Service said it affirmed the Baa2 long-term issuer rating of GEA Group AG and changed the outlook to stable from negative.

“The rating affirmation and stabilization of the outlook recognize GEA's solid results for the financial year 2020, despite slowing economic growth and muted investment activity in some end markets due to the coronavirus pandemic,” said Goetz Grossmann, a Moody's vice president - senior analyst and lead analyst for GEA, in news release.

“While GEA's credit metrics have reached our defined levels for a Baa2 rating in 2020, we expect further improvements over the next two years against a recovering global economy and cost savings from implemented restructuring.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.