Moody's stabilizes Givaudan outlook

Moody's Investors Service said it changed Givaudan SA's outlook to stable from negative and affirmed the Baa1 long-term issuer rating and the Baa1 assigned to the CHF 150 million of bonds maturing in 2028.

“Today's rating action reflects the company's sustained like-for-like revenue growth and margin improvement as of the first half of 2021 and Moody's expectation that growth will continue leading to a decline in leverage in 2021 and beyond,” the agency said in a press release.

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