S&P cuts Grifols rating, while Fitch, Moody’s leave unchanged; the company reaffirms business plan
Bankinter | S&P has cut Grifols debt rating, while Moody’s and Fitch leave theirs unchanged. The board issues a statement reaffirming business plan. The updated ratings are: S&P B+ (previous BB-); Moody’s B1; Fitch BB-. S&P highlights that the process of debt reduction could go slower than forecast amid difficult market conditions. It has maintained its outlook at Neutral. Both Moody’s and Fitch flag Grifols’ market positioning, its integrated business model,…