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S&P lifts Alstom to stable
S&P said it revised the outlook on Alstom SA to stable from negative.
The agency also said it affirmed the long-term corporate credit ratings on Alstom at BBB-, along with its short-term rating at A-3.
S&P also said it affirmed the BBB- long-term issue ratings on the company’s senior secured debt and A-3 short-term issue ratings on its commercial paper.
The outlook revision reflects an expectation that the company will continue to de-leverage following the close of the sale of its energy businesses to General Electric in November 2015 for €12.35 billion and the exceptional share buyback of €3.2 billion in January 2016, the agency said.
The company also is expected to further de-leverage by successfully delivering on its order backlog, S&P said.
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