Moody’s alters Atlas Copco view to positive

Moody’s Investors Service said it changed Atlas Copco AB’s outlook to positive from stable.

“The positive outlook reflects the sustained operating performance and leverage improvements of Atlas Copco. A continuation of the performance trend combined with a disciplined financial policy, even in a more severe macroeconomic environment, could support a rating upgrade over the next quarters. The outlook change also reflects our expectation that Atlas Copco will maintain a conservative capital structure, as reflected by its Moody’s adjusted leverage well below 1.5x debt/EBITDA and solid operating performance, with a Moody’s-adjusted EBITA margin above 20%,” the agency said in a press release.

Concurrently, Moody’s affirmed Atlas’ ratings, including the A2 senior unsecured long-term rating.

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