PRESS RELEASE
S&P RATING UPGRADED TO ‘CCC+’ WITH STABLE OUTLOOK
TECHNICOLOR CONFIRMS ITS 2020 AND 2022 GUIDANCE
This reflects the succesful completion of the Group’s financial restructuring, through which it has obtained €420 million (net of fees) of new financing, and has deleveraged via the equitization of €660 million of debt.
Technicolor now has a significantly strengthened balance sheet, with cash to meet the needs of the Covid crisis and beyond.
Based on business activity for the last 3 months, the Group remains confident of achieving the outlook presented in its press release issued on
“We are very pleased by this improvement in our credit rating, and we are determined to achieve further upgrades in the future. Technicolor is poised to return to delivering profitable growth, cash generation and value creation for shareholders on a sustainable basis.”
About Technicolor:
www.technicolor.com
Technicolor shares are admitted to trading on the regulated market of Euronext Paris (TCH) and are tradable in the form of American Depositary Receipts (ADR) in
Investor Relations
Christophe.lemignan@technicolor.com
Media Contact
lpoinsot@image7.fr
vdebrebisson@image7.fr
Attachment
- 09-25-2020_SP Upgrade_VUS
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