Moody’s assigns Eurofins Baa3

Moody’s Investors Service said it assigned a long-term issuer rating of Baa3 to Eurofins Scientific

“The Baa3 rating assigned to Eurofins reflects the company’s diversified and well-established market position in the bioanalytical testing sector and its track record of gradual operating performance improvement supported by organic and external growth,” Moody’s said in a press release.

The outlook is stable. The outlook assumes Eurofins will maintain its well-established market positioning, and that its Moody’s adjusted credit metrics will sustainably improve towards a level expected for the Baa3, such as Moody’s adjusted debt / EBITDA sustainably below 3.5x and Moody’s adjusted retained cash flow/net debt sustainably above 20% by 2021, the agency said.

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