Cost inflation and increased marketing spending will strain profitability, but terminating its share buyback programme will support gradual credit ratio improvement
Our credit view of Nestlé reflects its predictable and strong cash flow generation, offset by its financial policy characterised by high shareholder distributions.
Our credit view of Nestlé reflects its superior business profile, predictable and strong cash flow generation, offsetting pressure on credit metrics because of large share buyback.
Our credit view of Nestle S.A. reflects its strong cash flow generation, despite high cost inflation, offsetting its relatively weak credit metrics for the rating.
Our credit view of L'Oréal reflects its leading market position and exceptionally strong financial profile, tempered by its concentration in the highly competitive beauty market.