(Alliance News) - ALA Spa announced Monday that Cerved Rating Agency has raised the company's public rating to 'A3.1' from 'B1.1'.

The rating upgrade reflects ALA's growing competitive positioning within the sector; the positive economic results highlighted in 2022, aligned with budget targets; and the persistence at the end of 2022, despite the implemented M&A, of a good financial balance, with NFP/Ebitda of 2.0 times.

The business plan outlines for the coming years an important business development path that will benefit from growing market demand and synergies arising from the acquisition of Sintersa, a dynamic accompanied by a confirmation of positive economic performance. Also planned is the maintenance of a broadly sustainable level of leverage, an achievable goal, in the opinion of Cerved Rating Agency, given ALA's historical ability to generate cash flow.

Raffaele Carriola, Chief Financial Officer of ALA Group, said, "We are very proud of the result achieved. The rating upgrade, from 'B1.1' to 'A3.1,' demonstrates the solidity of our company in the market and confirms us as a leading operator in the field of integrated logistics services and distribution of products and components for use in the aerospace field, both in the civil and defense sectors."

"In addition, this achievement will strengthen the confidence of our investors, customers and business partners because it demonstrates our ability to maintain responsible financial management and sound business strategy. We look forward with confidence, knowing that our commitment to excellence will take us to new heights in the future. We will continue to work hard to maintain and improve our rating, thus ensuring stable and sustainable growth for all of the company's stakeholders."

ALA is flat at EUR13.45 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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