Moody’s ups Arkema view to stable

Moody's Investors Service said it affirmed Arkema's Baa2 issuer and senior unsecured ratings as well as the Ba1 junior subordinate bond rating.

The outlook was changed to stable from negative.

Moody’s said the ratings affirmation and outlook stabilization reflect the steady improvement in underlying operating performance reported by the group since its acquisition of Bostik for €1.74 billion in February 2015. This has translated into a stronger operating cash flow and enabled the group to reposition its financial metrics more solidly within the guidance for the Baa2 rating, including adjusted retained cash flow to net debt in the high-20s in percentage terms.

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