Verallia’s Credit Rating Upgraded by Standard & Poor’s, Affirming Financial Strength and Growth Potential
Verallia, a leading glass packaging company, is pleased to announce that Standard & Poor’s has recently upgraded the Group’s long-term credit rating to BBB- with a positive outlook. This positive development is a testament to Verallia’s strong financial position and the resilience of its profitable growth business model.
Sustainability-Linked Bonds also receive a Rating Boost
In addition to the credit rating upgrade, Standard & Poor’s has also raised the issue rating on Verallia’s two Sustainability-Linked bonds, each valued at EUR 500 million, which were issued in May and November 2021. These bonds now hold a BBB- rating, further affirming Verallia’s commitment to sustainable business practices.
Recognition of Financial Strength and Growth Potential
The upgraded credit rating underscores the full recognition of Verallia’s financial strength and the robustness of its operational performance. With a Baa3 rating and stable outlook from Moody’s, along with the upgraded BBB- rating and positive outlook from Standard & Poor’s, Verallia solidifies its position as an investment-grade company.
Confidence in Financial Policy and Growth Strategy
Nathalie Delbreuve, Chief Financial Officer of Verallia, expressed her satisfaction with the credit rating upgrade, stating, “The upgrade of Verallia’s credit rating by Standard & Poor’s, shortly after the upgrade by Moody’s, confirms the Investment Grade status of the Group. It reflects Standard & Poor’s confidence in our financial policy and the robustness of our operational performance and profitable growth strategy, reinforced by a clear decarbonation roadmap.”
Verallia’s strengthened credit rating not only validates its financial soundness but also highlights the company’s dedication to sustainable practices and its ability to deliver long-term value to stakeholders.
Verallia is a leading global manufacturer of glass packaging for the food and beverage industry. With a strong commitment to innovation, sustainability, and customer satisfaction, Verallia continues to expand its presence and deliver exceptional glass solutions worldwide.
Source: Verallia with additional information added by Apazone