Moody's Upgrades Verallia's Credit Rating from Ba1 to Baa3
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Regulatory News:
Verallia (Paris:VRLA) announces that Moody's has upgraded the Group's long-term credit rating to Baa3 with a stable outlook.
This upgrade is a sign of full recognition of the Group's financial strength and the robustness of its profitable growth business model.
Verallia is now rated Baa3 by Moody’s with a stable outlook and BB+ by Standard & Poor's with a positive outlook.
"The upgrade of Verallia's credit rating to Investment Grade reflects Moody's confidence in the relevance of the Group's profitable growth business model, its operating performance and its financial policy, which have significantly improved its credit profile. We are more motivated than ever to continue to deploy our profitability improvement levers and to maintain our decarbonisation trajectory, that will enable the Group to further strengthen its operational and financial profile over time," said Nathalie Delbreuve, Chief Financial Officer of Verallia.
About Verallia
At Verallia, our purpose is to re-imagine glass for a sustainable future. We want to redefine how glass is produced, reused and recycled, to make it the world's most sustainable packaging material. We are joining forces with our customers, suppliers and other partners across the value chain to develop beneficial and sustainable new solutions for all.
With more than 10,000 employees and 34 glass production facilities in 12 countries, we are the European leader and the world's third-largest producer of glass packaging for beverages and food products. We offer innovative, customised and environmentally friendly solutions to over 10,000 businesses worldwide.
In 2022, Verallia produced close to 17 billion glass bottles and jars and posted revenue of €3.4 billion Verallia is listed on compartment A of the regulated market of Euronext Paris (Ticker: VRLA – ISIN: FR0013447729) and is included in the following indices: CAC SBT 1.5°, STOXX600, SBF 120, CAC Mid 60, CAC Mid & Small and CAC All-Tradable.
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