Moody’s Upgrades the Air Liquide Group Credit Rating
September 06 2022 - 1:51AM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) welcomes Moody’s credit rating agency’s
decision to upgrade the Group’s long term rating to “A2”, versus
“A3” previously, as well as its short term rating to “P1”, as
opposed to “P2” before. The outlook associated with the ratings is
stable. These ratings relate to all debt instruments issued by Air
Liquide SA and Air Liquide Finance.
To explain its decision to upgrade its long-term rating, Moody’s
highlights the stability and the resilience of the Group’s earnings
and cash flow generation. The upgrade of the short-term rating
reflects in particular Air Liquide’s strong liquidity profile.
This upgrade is in line with the Group’s 2025 strategic plan,
called ADVANCE. Within the context of this plan launched in March
2022, the group is committed to strongly increase its investment
while keeping a particularly strong balance sheet, in line with an
“A” range rating.
Jérôme Pelletan, Chief Financial Officer of Air Liquide
Group, said: “Moody’s decision to upgrade the credit rating of
Air Liquide is all the more remarkable as it is taking place in a
more difficult macroeconomic and geopolitical environment. It
underlines the Group’s capacity to maintain a high level of cash
flow despite the fluctuations of the economy. Following Standard
& Poor’s decision to upgrade Air Liquide’s credit rating, this
decision recognizes the Group’s level of debt, which has been
brought back to its pre-Airgas 2016 acquisition level in five
years. It also reflects the largely demonstrated resilience of the
Group’s business model.”
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 75 countries with
approximately 66,400 employees and serves more than 3.8 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart
of Air Liquide’s strategy. With ADVANCE, its strategic plan for
2025, Air Liquide is targeting a global performance, combining
financial and extra-financial dimensions. Positioned on new
markets, the Group benefits from major assets such as its business
model combining resilience and strength, its ability to innovate
and its technological expertise. The Group develops solutions
contributing to climate and the energy transition—particularly with
hydrogen—and takes action to progress in areas of healthcare,
digital and high technologies.
Air Liquide’s revenue amounted to more than 23 billion euros in
2021. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX
50 and FTSE4Good indexes.
www.airliquide.com Suivez-nous sur Twitter
@airliquidegroup
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