Moody's upgrades InPost's ratings to Ba1, changes outlook to stable
Moody's rating agency has upgraded the Poland-based provider of parcel delivery services InPost's long-term corporate family rating (CFR) to Ba1 from Ba2, following proposed bond refinancing, Moody's said in a statement. The outlook has been changed to stable from positive.
On Monday, InPost has announced its intention to offer, depending on market conditions, senior bonds maturing in 2031 with a total nominal value of EUR 750 million.
"We expect InPost to maintain solid credit metrics for its rating, thanks to continuous growth of its earnings, mainly driven by volumes and market share expansions" said Moody's deputy head, senior analyst and lead analyst for InPost Lorenzo Re, quoted in the statement.
"The upgrade also reflects the company's good liquidity profile, supported by healthy operating cash flows generation, and its conservative financial policy", he added.
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