Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 9 February 2023 – Euronext, the leading pan-European market infrastructure, today acknowledges the decision of S&P to upgrade Euronext from ‘BBB, Positive outlook’ to ‘BBB+, Stable outlook’.
S&P decision reflects Euronext strong cash generation and deleveraging capabilities following the acquisition of the Borsa Italiana Group, as well as Euronext Clearing revised investment policy, as announced on 28 July 2022 that has meaningfully reduced risk for Euronext.
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+, Stable Outlook. This upgrade is a great recognition of the transformation journey we engaged in following the acquisition of the Borsa Italiana Group. 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, to 2.6x at the end of 2022.
Euronext is today stronger than ever, with a strong and diversified business profile. Combined with our recognized solid financial position and strong cash generation, and our strong track record in post-merger integration projects, we are in the right position to look for possible external growth opportunities, in line with our disciplined capital deployment policy.”