S&P Global Ratings upgrades Nexans to BB+Feb 16, 2022
- Nexans solid results, successful transformation and sound balance sheet support rating upgrade to BB+
- Outstanding Free Cash Flow of 179 million euros
- New record low Net Debt at 74 million euros
Paris, February 16, 2022 – Today, Nexans is proud to announce that S&P upgraded Nexans’ rating to BB+ from previously BB.
In 2021, the Group exceeded expectations, notably reaching 179 million euros free cash flow and a new record low net debt at 74 million euros, supported by strict working capital management and cash generation mindset.
Nexans’ rating raised to BB+ on the Group’s long-term issuer credit and senior unsecured notes. Outlook remains stable.
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