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S&P boosts Schneider Electric
S&P said it raised Schneider Electric SE’s long-term issuer credit rating to A from A-.
Schneider repositioned its portfolio to benefit from secular trends in decarbonization, digitalization and automation, the agency noted.
“We expect higher and more resilient profitability, backed by an increasing share of higher-margin recurring revenues. We believe that Schneider's profitability will benefit from an increasing share of software and services solutions. We expect EBITDA margins to exceed 20% starting in 2024 and further appreciate toward 20.5% in 2025. We also expect more resilient volumes, backed by the evolving revenue mix, allowing the company to increase the share of recurring revenues,” S&P said in a press release.
The outlook is stable.
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