On August 25, 2017, Standard and Poor’s, the global credit rating agency, affirmed its 'BBB' issue credit rating on the senior secured debt issued by Ellevio. The rating confirms S&P’s positive view on Ellevio’s solid operational results. The outlook for the rating is stable.
In the research update, S&P Global Ratings states that the confirmed rating reflects “our forecast that Ellevio will continue to generate steady, predictable earnings, and maintain credit measures in line with the current rating”.
S&P views Ellevios liquidity profile as strong, based on Ellevio's adequate headroom under all its financial covenants and available liquidity sources. “We also acknowledge Ellevio's track record in the capital markets over the past year, which leads us to regard its market access as high rather than satisfactory, and bank relationships as solid rather than sound”, the research update continues.
”It’s positive to see that S&P recognizes the refinancing activities we have undertaken – replacing the initial acquisition debt facility with a more diversified financing structure in terms of longer tenors and access to domestic and international capital markets,” says Jan Seveborg, Senior Vice President Treasury.
The full research update is available on ellevio.se