S&P revises Loxam view to negative

S&P said it revised its outlook on Loxam SAS to negative from stable and affirmed the BB- ratings on the company.

The outlook is negative.

On June 10, Loxam announced a friendly public cash tender offer for Ramirent pls, a publicly listed equipment rental company based in Finland.

“This acquisition will increase Loxam's gross debt by about €1.5 billion, and given this material increase, we foresee slower deleveraging than previously expected,” S&P said in a news release.

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