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S&P ups Ericsson
S&P said it upgraded its issuer and issue ratings for Ericcson (Telefonaktiebolaget LM) to BBB- from BB+.
Citing Ericcson’s restructuring program and its product portfolio, S&P said it forecasts Ericsson’s annual reported free operating cash flow after lease payments will increase to about SEK 10 billion in 2020 from about SEK 4 billion annually from 2016-2018.
S&P said it expects Ericcson’s adjusted EBITDA margin to be 12%-13% in 2020, compared with 1% on average from 2016-2018.
The outlook is stable.
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