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Cementir Holding is given a BBB investment rating by Standard and Poor 27 May 2021
Standard & Poor s rating agency announced that it had assigned Cementir Holding NV an Issuer Rating of “BBB- with Stable Outlook”.
The attribution of an investment grade rating is the culmination of a process that began several years ago, which saw Cementir significantly diversify its business and product portfolio, allowing it to achieve considerable stability in results, even during the recent pandemic crisis.
During 2020 Cementir Holding improved its profitability and further reduced its financial leverage. Over the next few months, the management expects to further strengthen the competitive position, thanks to cash generation and the major investments in sustainability and digitalisation envisaged in the 2021-23 Business Plan.
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Standard & Poor s rating agency has announced that it had assigned Cementir Holding N.V. an Issuer Rating of ‘BBB- with Stable Outlook.’
The attribution of an Investment Grade rating is the culmination of a process that began several years ago, which saw Cementir significantly diversify its business and product portfolio, allowing it to achieve considerable stability in results, even during the recent pandemic crisis.
In fact, during 2020, Cementir Holding improved its profitability and further reduced its financial leverage. Over the next few months, the management expects to further strengthen the competitive position, thanks to cash generation and the major investments in sustainability and digitalisation envisaged in the 2021 – 23 Business Plan.
COVID-19
Trisura staff continue to work effectively from home. We have introduced safety measures in physical offices and began a gradual return to work in jurisdictions where it is safe.
Despite resilience in the quarter, a recent third wave globally and the potential for a weaker than anticipated economic recovery may threaten momentum.
Premium generation and claims activity may be impacted depending on the length and depth of the pandemic-related economic slowdown, as well as the effectiveness of government support programs and vaccines in driving a sustained re-opening. Depending on these factors, premium growth could slow and claims activity could increase.
Trisura Group Reports First Quarter 2021 Results streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.