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Fitch Ratings Affirms and Withdraws Electrolux AB Ratings-Reuters

Wednesday, 27 Mar 2013 07:04am EDT 

Reuters reported that Fitch Ratings (Fitch) has affirmed Electrolux AB's Long-term Issuer Default Rating (IDR) and senior unsecured notes at 'BBB'. The outlook on the Long-term IDR has been revised to stable from negative. Fitch has simultaneously withdrawn the ratings as they are no longer considered by Fitch to be relevant to the agency's coverage. Accordingly, Fitch will no longer provide ratings or analytical coverage for Electrolux. The revision of the outlook to stable is based on Electrolux's progress over 2012 in improving its financial results, which have been boosted to some degree by the internal restructuring measures the Company has made, but also by improved market conditions in some key growth emerging markets. The expected financial performance of the Company in 2013 and beyond is in Fitch's view better than previously assumed and Fitch believes that the risk of a downgrade has diminished. 

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11 Jul 2014