Elis : Reassuring business resilience even if the COVID-19 crisis has set the prospects for debt reduction back further
Even though Elis derives one-fourth of its business from the tourism and catering sectors and is thus adversely impacted by the COVID-19 crisis, H1 2020 results and the targets given by the group for 2020 are fairly reassuring as to its resilience. Even so, there will be no deleveraging this year and credit metrics are set to remain within in the 'BB' category, which we believe is fairly reflected in current spreads. At these levels, we still recommend holding on the straight bon...Elis is a multi-service group in the rental, laundry and maintenance of textile, hygiene and well-being items in Europe and Latin America. Co. serves hundreds of thousands of customers of all sizes, belonging to various professional customer segments: hospitality, healthcare, industry, trade and services. Co. also has a manufacturing business carried out by two entities, Le Jacquard FranASSais and Kennedy Hygiene Products which together form one of the company's operating segments.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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