Link Securities | On Monday, credit rating agency Moody’s Ratings upgradedGrifols’ corporate family rating (CFR) from ‘B2’ to “B1”, reflecting the company’s continued operating performance and the ‘strength’ of its business fundamentals, Bolsamania.com reported yesterday. On the other hand, the agency has changed the outlook from ‘positive’ to ‘stable’.
The rating agency explained that this change in rating reflects Grifols’ ‘solid operating performance, with strong revenue growth and profitability, which has led to an improvement in its key credit indicators. This, together with the company’s solid business profile in blood products and efficient management, drives the rating decision.’ In this regard, over the next 12 to 18 months, Moody’s expects the company’s adjusted gross leverage to approach 5.5 times from an estimated 6 times in 2025, with adjusted free cash flow (FCF) generation of approximately €140 million over the same period.
