S&P upgrades Teleperformance

S&P said it raised upgraded the ratings on Teleperformance and its senior unsecured debt to BBB from BBB-.

“We expect Teleperformance's credit metrics will improve significantly in 2021, underpinned by the group's strong revenue and EBITDA growth. We forecast that revenue will increase 18%-19% in 2021 and profitability will recover to above pre-Covid-19 levels, with an S&P Global Ratings-adjusted EBITDA margin above 21.5%, from 19.6% in 2020 and 21.1% in 2019,” S&P said in a press release.

The agency said it projects Teleperformance’s FFO-to-debt ratio will improve to above 45% and net adjusted leverage to below 2x in 2021. “This compares with our previous expectations of 36%-38% and 2x-2.5x, respectively.”

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.