Business
Standard & Poor credit rating upgrade
Standard & Poor credit rating upgrade.
About this update from Babcock International Group Plc
[{"type":"text","content":"\n \n \n \n Babcock: Standard & Poor credit rating upgrade\n \n \n \n \n \n \n 20 December 2022\n \n \n \n \n \n Standard & Poor's has today raised its issuer credit rating on Babcock and its issue rating on its senior unsecured bonds to 'BBB' from 'BBB-'. The stable outlook is unchanged.\n \n \n The decision to upgrade to 'BBB' reflects the near-completion of the disposals programme and subsequent reduction in debt, along with the renegotiation of legacy contracts, and a restructured and tightened cost base. The stable outlook reflects Babcock's good revenue visibility and tighter control over its cost base resulting in gradually improving margins and stronger cash flows over S&P's two-year rating horizon.\n \n \n \n \n \n \n ENDS\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n For further information:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Andrew Gollan, Director of Investor Relations\n \n \n \n \n +44 (0)7936 039004\n \n \n \n \n \n \n Kate Hill, Group Director of Communications\n \n \n \n \n +44 (0)20 7355 5312\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Tulchan Communications\n \n \n \n \n \n \n \n \n \n \n \n \n \n Olivia Peters / Harry Cameron\n \n \n \n \n +44 (0)20 7353 4200\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ","length":4866,"tagName":"div"}]