S&P changes Bilfinger to stable

S&P said it revised the outlook on Bilfinger SE to stable from negative and affirmed the BB+/B long- and short-term corporate credit ratings.

The agency also affirmed the issue ratings on the company’s outstanding rated debt instruments.

S&P said the outlook revision follows Bilfinger's recent announcement that it signed an agreement to sell its Building and Facility business segment to EQT for a purchase price of €1.2 billion. The transaction is subject to approval from the responsible authorities.

Should the transaction be completed as expected, the agency believes the immediate impact on Bilfinger's business risk profile would be negative because it would significantly reduce the group's diversification, likely leading to higher earnings volatility. S&P therefore now views Bilfinger's business risk profile as fair rather than satisfactory.

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