S&P affirms Legrand

S&P said it affirmed its A-/A-2 long- and short-term issuer credit ratings on Legrand SA.

The outlook remains negative.

At the same time, the agency affirmed the A- issue ratings.

“The affirmation reflects that our view that Legrand's operating performance remains in line with our expectations and that credit metrics would gradually improve due to solid cash flow generation if the group's dividend and acquisition policies are in line with our base-case scenario,” S&P said in a news release.

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