Moody's alters Air Liquide view to positive

Moody's Investors Service said it changed the outlook on Air Liquide SA to positive from stable.

“The change of outlook on Air Liquide's A3 rating reflects Moody's expectation that Air Liquide's credit metrics will approach a level deemed to be commensurate with a higher rating in the next 12-18 month. Air Liquide's EBITDA generation will benefit from a volume recovery in its large industry and industrial merchant business and continued solid demand in its electronics and healthcare subdivisions. Moody's also assumes that the company will be able to execute on its sizeable investment backlog, while maintaining free cash flow around breakeven levels,” the agency said in a press release.

Concurrently, Moody's affirmed all ratings of Air Liquide and its subsidiaries including Air Liquide's A3 long-term issuer rating.

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