Pan-European market infrastructure Euronext today welcomed S&P’s decision to upgrade Euronext from ‘BBB+, Stable Outlook’ to ‘BBB+, Positive Outlook’.
S&P’s decision reflects the imminent completion of the consolidation of the Borsa Italiana Group, the successful expansion of Euronext Clearing and continued deleveraging due to the group’s strong cash flow generation.
Stéphane Boujnah, CEO and Chairman of the Board of Directors of Euronext, said:
“We are pleased to see today the Euronext rating upgraded by S&P to BBB+, Positive Outlook. This upgrade is a strong recognition of the success of the transformation journey we have undertaken since the closing of the Borsa Italiana Group acquisition. We followed our deleveraging path, from 3.2x net debt to EBITDA at the close of the transaction, to 2.0x at the end of 2023. Meanwhile, we continued to return capital to our shareholders, including with our first share buyback program” . .