S&P ups Gildemeister outlook to positive

Standard & Poor's said it revised its outlook on Gildemeister AG to positive from stable reflecting further improvements in the company's financial profile, sound but moderating market prospects over the near term and its enhanced product portfolio.

This should support further deleveraging, as well as improve profitability and the business risk assessment, the agency noted.

At the same time, S&P said it affirmed its BB- long-term corporate credit rating on the company.

The outlook revision reflects Gildemeister's improved profitability and cash generation, the agency added, stating that the ratings are constrained by the group's aggressive financial profile, the cyclical and competitive end-markets that it serves and the high capital intensity of the industry.

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