(Finance) – Fitch Ratings confirmed the Long-Term Issuer Default Rating (IDR) of Almaviva to “BB” with outlook “stable“.
Almaviva’s rating is driven by its consolidated positions as a leading Italian IT services company with a large order backlog, stable relationships with key customers, positive growth prospects and deleveraging capabilities. There financial leverage rose to 3.5x in 2024but the company maintains a significant cash cushion on its balance sheet, which makes its net leverage much more moderate.
Slow progress in deleveraging due to further debt-financed mergers and acquisitions or insufficient revenue/EBITDA growth could exert pressure on ratingsis underlined.