(Alliance News) - Greenthesis Spa on Monday announced that Cerved Rating Agency Spa -- an Italian rating agency specializing in assessing the creditworthiness of non-financial companies and evaluating the degree of sustainability of economic operators -- has raised the company's public credit rating, which was already in the "Investment Grade" range, from B1.2 to B1.1.

The company explained in a note that the upgrade in the credit rating class reflects the consolidation in 2023 of revenues and margins; the maintenance of both a positive Net Operating Cash Flow and a sustainable level of leverage; the forecasts of the new group industrial plan 2024-2028 that indicate growth in revenues, further consolidation of margins and parallel downsizing of the adjusted Net Financial Position against higher operating cash flows; and the expected entry of Patrizia SE, a leading partner for investments in the global real estate and infrastructure market, into Greenthesis' share capital.

Greenthesis' stock is at par at EUR2.22 per share.

By Claudia Cavaliere, Alliance News reporter

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