S&P lifts Verbund to stable

S&P said it revised the outlook on Verbund AG to stable from negative.

The agency also said it affirmed the company’s BBB long-term corporate credit rating and issue ratings.

The outlook revision follows the recovery of power prices and the credit-supportive measures Verbund put in place to streamline its cost structure, S&P explained.

The company reduced capital expenditure will result in positive cash-flow generation after investment and dividends, which supports an opinion that Verbund will be able to achieve credit metrics in line with its current rating over the next three years, the agency said.

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