Moody’s changes Ali outlook to positive

Moody’s Investors Service said it changed its outlook for Ali Holding Srl and Ali Group North America Corp. to positive from stable and affirmed its Baa3 ratings.

"Moody's decision to change the outlook on Ali's ratings to positive from stable was triggered by the swift deleveraging Ali has achieved since the rating assignment in 2021," said Oliver Giani, Moody's lead analyst for Ali, in a press release.

"Within only one year after closing the Welbilt, Inc. (Welbilt) acquisition, Ali managed to reduce its debt/EBITDA to 2.6x, meeting the leverage expectation set for the Baa2 rating category. Ali's cash-preserving financial policy with a strong track record is a clear credit strength," he added.

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