Pan-European market infrastructure Euronext today welcomed the decision of S&P to upgrade Euronext from ‘BBB+, Stable Outlook’ to ‘BBB+, Positive Outlook’.
S&P decision reflects the approaching completion of the integration of the Borsa Italiana Group, the successful expansion of Euronext Clearing and the continued deleveraging driven by the group’s strong cash flow generation.
Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:
“We are pleased today to see Euronext rating upgraded by S&P to BBB+, Positive Outlook. This upgrade is a strong recognition of the success of the transformation journey we engaged in since the closing of the acquisition of the Borsa Italiana Group. We have pursued our deleveraging path, from 3.2x net debt to EBITDA at closing of the transaction, to 2.0x at the end of 2023. In the meantime, we continued to return capital to our shareholders, including with our first share repurchase programme”.
