Fitch affirms Sierra Cables

Fitch Ratings said it affirmed the national long-term rating on Sierra Cables plc at BB+(lka). The outlook is stable.

The affirmation reflects Fitch's expectation that Sierra's leverage will continue to improve in the next 12 months, driven by a sustained recovery in demand and profitability in the financial year to March 31, 2020 due to strong project-based revenue growth and the sustained turnaround in its previously unprofitable subsidiary Sierra Industries due to sizeable contract wins, the agency said.

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