S&P changes Leonardo view to stable

S&P said it revised the outlook for Leonardo to stable from positive and affirmed the company’s BB+ rating.

“The stable outlook indicates our expectation that delayed deleveraging could result in FFO to debt of about 25% in 2020. How fast Leonardo can reduce capital expenditure (capex), stabilize working capital, and preserve cash is key to weathering the current economic uncertainty,” S&P said in a press release.

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