Press Release
Moody’s Rating Upgraded to “Caa2 from Caa3” with Stable Outlook
This upgrade follows that of S&P to “CCC+” (corporate rating) and to “B” (new debt) and reflects the successful completion of the Group’s financial restructuring, through which it has obtained €420 million (net of fees) of new financing, and has deleveraged via the equitization of €660 million of debt.
As previously stated, Technicolor now has a significantly strengthened balance sheet, with cash to meet the needs of the Covid crisis and beyond.
“Within a few days we have been upgraded by both S&P and Moody’s. We are very pleased by these improvements in our credit ratings which reflect the restoration of a sound financial structure for our company. Technicolor is poised to return to delivering profitable growth, cash generation and value creation for shareholders on a sustainable basis.”
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About Technicolor:
www.technicolor.com
Technicolor shares are admitted to trading on the regulated market of Euronext Paris (TCH) and are tradable in the form of American Depositary Receipts (ADR) in
Investor Relations
Christophe.lemignan@technicolor.com
Media Contact
lpoinsot@image7.fr
vdebrebisson@image7.fr
Attachment
- 09-30-2020_Moody's Upgrade_VUS
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