S&P ups Luxottica to positive

Standard & Poor's said it revised the outlook on Luxottica Group SpA to positive from stable.

S&P also said it affirmed the group's BBB+/A-2 long- and short-term corporate credit rating.

The outlook change follows a second straight year of robust operating results with Luxottica posting double-digit growth in sales and earnings in 2012, the agency said.

The ratings also consider the company's strong business risk profile, supported by a leading position in the fast-growing eyewear industry, S&P said.

The ratings also reflect the group's intermediate financial risk profile, underpinned by solid free cash flow generation and moderate credit metrics, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.