Moody's changes Guala outlook to stable

Moody's Investors Service said it changed to stable from negative the outlook on Guala Closures SpA.

"The outlook change to stable from negative reflects Guala's stronger-than-expected operating performance in the first nine months of 2022 and its improved credit metrics, which position the company more strongly in the B1 rating category," says Donatella Maso, a Moody's vice president, senior credit officer and lead analyst for Guala, said in a press release.

"Despite the strong positioning based on credit metrics, the stable outlook also takes into account potential near-term earnings volatility due to the risks posed by a global economic slowdown, the company's exposure to Ukraine and potential energy disruption in Europe," Maso added.

Concurrently, Moody's affirmed Guala's B1 corporate family rating, its B1-PD probability of default rating and the B1 rating on its €500 million of backed senior secured notes due 2028.

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