Elis : Updating our recommendations
Elis releases full-year 2023 sales up by 12.8% and raises EBITDA margin and free cash flow targets. As part of this newsflow, we are updating our recommendation on ELISGP notes. - Elis had made obtaining an investment grade rating a priority. The goal was achieved in November 2023 with S&P upgrading the group's rating to BBB-/stable, whereas Moody's should soon follow suit given that the outlook was already raised to Positive in August 2023. - On the bond market, spreads on ELISGP ...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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