S&P ups outlook on Rolls Royce's long-term debt rating to 'stable'
Rolls-Royce Holdings
395.50p
17:15 19/04/24
Perhaps the world's most influential debt ratings agency raised the outlook on Rolls Royce's long-term debt, forecasting a significant improvement in the engine maker's profits and cash flows over the next two years.
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Following the clear majority obtained by the Conservatives at the last elections and with the risk of a no-deal Brexit now diminished, Standard&Poor's raised its outlook on the engineer's BBB- rating from 'negative' to 'stable'.
"We now believe that Rolls-Royce is well positioned to deliver against our expectations," S&P said.
"The stable outlook reflects our expectation that Rolls-Royce will continue to deliver on its business strategy, grow revenues, and improve profitability, cash flows, and credit metrics."
As of 1600 GMT, shares of Rolls Royce were advancing 2.29% to 651.40p.