(Finance) – Moody’s has revised upwards the long-term rating of Leonardo to “Baa3”, with a stable outlook.
The upgrade – explains the rating agency – “reflects the resilience of the group during the pandemic, a substantial deleveraging and the solid growth prospects of the Defense sector”.
Furthermore, according to Moody’s, Leonardo should continue to benefit from favorable market conditions in the next 12-18 months, in relation to geopolitical risk and the increase in defense budgets of the group’s main customers.