Loxam Group announced today that S&P Global has decided to upgrade Loxam\u2019s long-term issuer rating on performance recovery from B+ to BB- with a stable outlook, reflecting the company\u2019s robust operating performance.<\/p>\n
\u201cWe forecast Loxam will continue to deliver resilient operating performance in 2022 and 2023,\u201d <\/b>stated S&P Global in its rating action rationale.<\/p>\n
S&P expects Loxam to deliver another robust operating performance in 2022 thanks to a growth in revenue. At the same time, S&P acknowledges that increased capex spending will weigh on FOCF. Loxam\u2019s liquidity is anticipated to remain \u201cadequate\u201d given that, first, the Group will have access to a \u20ac 345 million RCF and that, second, the Group, thanks to its refinancing in February of its 2022 and 2023 Senior Secured Notes, is not due to repay any major debts until 2025.<\/p>\n
Before the uncertainty regarding economic growth created by the war in Ukraine, Loxam anticipated, given the expected growth of the construction sector, an acceleration of its commercial and financial performance in 2022.<\/p>\n
G\u00e9rard D\u00e9prez, Chairman and CEO of LOXAM, commented:<\/p>\n
\u201cWe are very pleased that Loxam has received this rating upgrade to BB-, the same rating the Group had before the transformational acquisition of Ramirent. By quickly recovering its pre-pandemic rating, we believe that Loxam has demonstrated its ability to swiftly adapt and implement the right policies to deliver sufficient financial results. We are glad that we are perceived as a stable and resilient business and we will keep striving to achieve the best growth and results possible.”<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"
Loxam Group announced today that S&P Global has decided to upgrade Loxam\u2019s long-term issuer rating on performance recovery from B+ to BB- with a stable outlook, reflecting the company\u2019s robust operating performance. \u201cWe forecast Loxam will continue to deliver resilient operating performance in 2022 and 2023,\u201d stated S&P Global in its rating action rationale. S&P expects Loxam to deliver another robust operating performance in 2022<\/p>\n","protected":false},"author":1,"featured_media":11643,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[75],"tags":[],"class_list":["post-13336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"acf":[],"_links":{"self":[{"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/posts\/13336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/comments?post=13336"}],"version-history":[{"count":2,"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/posts\/13336\/revisions"}],"predecessor-version":[{"id":13338,"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/posts\/13336\/revisions\/13338"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/media\/11643"}],"wp:attachment":[{"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/media?parent=13336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/categories?post=13336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/loxam.com\/en\/wp-json\/wp\/v2\/tags?post=13336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}