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CORRECTED-Leonardo CEO sees reaching investment grade rating as key priority
July 28, 2017 / 8:27 AM / in 4 months

CORRECTED-Leonardo CEO sees reaching investment grade rating as key priority

(Corrects RIC in first paragraph, timing of business plan presentation in the last paragraph)

MILAN, July 28 (Reuters) - The new chief executive of Italy’s aerospace and defence group Leonardo said on Friday that reaching an investment grade credit rating for the company was high on his agenda.

“Investment grade is a key priority for us because investors need (to be certain) of the long-term sustainability of the company,” CEO Alessandro Profumo, a veteran banker who was appointed in May, told analysts in a post-results conference.

The state-controlled group is currently one notch below investment-grade level with all three major rating agencies.

Profumo said that after three years of deep restructuring, led by his predecessor Mauro Moretti, the group had to focus more “outside the company, more towards customers”.

He added that the group would look at improving its post-sale customer services, which could provide a solid revenue base for the group.

Profumo said that he would illustrate his plan for the company at the beginning of next year. (Reporting by Giulia Segreti; editing by Agnieszka Flak)

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