Press Room
Prosegur obtains a Baa2 Stable outlook rating from the credit rating agency Moody’s
This rating values the high credit quality of the company.
Madrid, 23rd July 2015.- Prosegur has been assigned the Baa2 Stable outlook rating by the credit rating agency Moody’s, that has been rating Spanish issuers since 1987. Moody’s is a credit rating agency that is dedicated to international financial research and analysis of commercial and governmental entities, that rates the creditworthiness of issuers, assessing the relative risk of investing on a specific financial product.
The Baa2 Stable outlook rating is defined as a medium long term debt rating with a stable outlook, enabling investors to get a better assessment of the investment grade quality and confirming the company as a major target in future bond issues because of its creditworthiness and low default risk.
As such, Prosegur’s rating is the same as that assigned to the Kingdom of Spain, the latter with a positive credit rating outlook, thus confirming the solvency and soundness of Prosegur’s business model. The credit rating agency Moody’s provides assessment to more than 60 institutional investors. In Spain it assigns credit ratings to a total of 24 companies, 39 financial entities, 15 local and central governments as well as three insurance companies.
Moreover, this rating confirms the positive trend of the company’s results, the strength of our operating cash flow and the significant net debt reduction achieved during last year. Thus, the company’s position is a clear sign of its capacity to pay back bonds, both in the short and in the long term, as it has been demonstrated in previous years. Last year, Standard & Poor’s (S&P) confirmed its 'BBB stable’ rating for Prosegur’s long-term debt.