Vallourec: Standard and Poor’s degraded by two notches the rating, the … – Boursorama

Works Entrance Vallourec, April 30, 2015 in Saint-Saulve (Nord) (AFP / File / FRANCOIS LO PRESTI)

works Entrance Vallourec, April 30, 2015 in Saint-Saulve (Nord) (AFP / File / FRANCOIS LO PRESTI)

in terms of difficult market linked to oil prices, “EBITDA (EBITDA) will decline in 2016 and much lower than what we had expected, after a negative EBITDA in 2015,” writes the rating agency in a release.

in 2016, the group, which on Monday announced a new restructuring plan, with 1,000 job cuts in Europe, accompanied by a capital increase of one billion euros, provides him as a gross operating loss.

the long-term rating with a negative outlook, which means it is likely to be deteriorated again, but due to the increase capital announced on Monday, the agency has no plans to do so in the short term.

it considers that the capital increase will be carried out half with the state and with its Japanese partner Nissan Steel (NSSMC), will grant it additional financial stability during its restructuring phase.

the agency could raise the prospect of “negative” to “stable” in the course of the year if progress were achieved through its transformation plan.

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