Moody’s upgrades Peri to Baa2

Moody's Investors Service said it upgraded Peri GmbH's long term issuer rating to Baa2 from Baa3 with a stable outlook.

"The upgrade of Peri's rating follows four years of steady performance and improving financial metrics that were constantly above Moody's expectations for a possible upgrade," Falk Frey, Moody’s senior vice president and lead analyst for Peri, said in a news release.

"Based on our expectation of a continued conservative financial policy that is founded on organic growth and cash retention within the company, we anticipate credit metrics to sustain at current levels absent any cyclical downturn."

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