S&P lifts ALD view to positive

S&P said it revised the outlook on ALD SA, a subsidiary of Société Générale (SocGen), to positive from stable.

The agency also said it affirmed the company's BBB long-term and A-2 short-term counterparty credit ratings, along with the BBB rating on ALD's senior unsecured notes.

The outlook revision reflects a view that ALD could achieve robust and prolonged business growth beyond the current base-case expectations, S&P explained.

The company has consolidated its position as a leading leasing and fleet management company with a solid franchise, high level of expertise, dominant fleet volume and comparatively favorable profitability, the agency said.

ALD has been gradually improving its revenue and profit diversity over the past few years, as measured by customer, supplier, geography and services mix, S&P said.

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