Aperam upgraded to Investment Grade (BBB-) by Standard & Poor's
May 18 2017 - 04:00PM
Luxembourg, 18 May 2017 -
Aperam announces today that its long-term corporate credit
rating has been upgraded to Investment Grade by Standard &
Poor's, in recognition of its steady and strong operating
performance and credit metrics. Aperam's long-term corporate credit
rating by Standard & Poor's is now at BBB-, with stable
outlook.
Since the creation of
Aperam in 2011, the Company has successfully pursued a strategy
designed to reinforce its resilience to challenging market
conditions based on self help measures. The key strategic
priorities of the company are based on improving its operational
excellence and profitability through the Leadership Journey®,
driving value through the Top Line strategy, generating positive
cash flows, and disciplined cash allocation policy thereby leading
to a strong balance sheet consistent with Investment Grade
Financial ratios.
Timoteo Di Maulo, CEO of
Aperam, commented: "I am very proud of our upgrade
to Investment Grade by Standard & Poor's which is once again
the recognition of the solid execution of our strategy after the
Investment Grade rating by Moody's in last February. Reaching
Investment Grade by both agencies also is a recognition of our
financial policy and the confidence in our prospects. Looking
forward, we remain confident in our ability to execute our
strategic priorities and to continue generating solid cash flows
while maintaining a strong balance sheet."
About Aperam
Aperam is a global
player in stainless, electrical and specialty steel, with customers
in over 40 countries. The business is organized in three primary
operating segments: Stainless & Electrical Steel, Services
& Solutions and Alloys & Specialties.
Aperam has 2.5 million
tonnes of flat Stainless and Electrical steel capacity in Brazil
and Europe and is a leader in high value specialty products. Aperam
has a highly integrated distribution, processing and services
network and a unique capability to produce stainless and specialty
from low cost biomass (charcoal). Its industrial network is
concentrated in six production facilities located in Brazil,
Belgium and France.
In 2016, Aperam had
sales of USD 4.3 billion and shipments of 1.92 million
tonnes.
For further information, please refer to our website at
www.aperam.com
Contact
Corporate Communications / Laurent
Beauloye: +352 27 36 27 103
Investor Relations / Romain Grandsart: +352 27 36 27 36
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Aperam via Globenewswire
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