Moody’s upgrades Greif

Moody's Investors Service said it upgraded Greif, Inc.'s corporate family rating to Ba1 from Ba2 and probability of default rating to Ba1-PD from Ba2-PD. The outlook is stable.

"The upgrade considers Greif's meaningful deleveraging to 3.0x for the twelve months to January 2022 from 4.5x in 2019," Motoki Yanase, vice president, senior credit officer at Moody's, said in a news release.

"We also expect the company to demonstrate conservative financial policies, including managing total debt and leverage and maintaining strong liquidity, despite inherent volatility in its operation with a number of industrial end users.”

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