S&P downgrades Obol France 3

S&P said it downgraded its ratings on Obol France 3 SAS to B from B+. Obol operates under the name OGF.

Between April 1, 2019 and Dec. 31, 2019, OGF reported revenue of €435.4 million and EBITDA of €85.1 million. This is 2.7% and 10.6% lower than revenue and EBITDA, respectively, for the same period the previous year. OGF did not recover market shares despite granting its commercial forces more leeway to match competitors' quotes. As of the end-November 2019, OGF held 19.4% of the market, compared with 20% the previous year, S&P said.

The outlook is stable.

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