S&P lifts KION to positive

Standard & Poor’s said it revised the outlook on KION Group AG to positive from stable.

The agency also said it affirmed the company’s BB+ long-term corporate credit rating.

The outlook revision reflects the group’s strong operating and financial performance and improving key credit metrics, S&P said.

In 2015, KION posted strong operating results, driven by top-line expansion due to growth in its end markets and relatively stable operating margins, the agency said.

The company also recently refinanced its capital structure with lower yielding instruments and should benefit from lower interest payments in the future, S&P said.

KION will continue to show strong operating results in 2016 due to its high share of service revenues and equipment sales order backlog, the agency said.

© 2015 Prospect News.
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