S&P lowers Atos view to negative

S&P said it affirmed the BBB+ ratings on Atos SE and revised the outlook to negative from stable.

The company announced that it will distribute 23.4% of its 50.8% stake in Worldline to its shareholders, which will modestly weaken Atos's business risk profile and temporarily result in materially weaker credit ratios than in the previous base case, S&P said.

However, Atos benefits from good revenue visibility and its management is committed to a strong balance sheet, the agency said.

The company's cash flow and remaining stake in Worldline should allow it to reduce its adjusted debt-to-EBITDA ratio to less than 2x in 2020, S&P added.

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