Bulletin: Bormioli Pharma's Acquisition Of Germany-Based R&G Is In Line With Its Growth Strategy And Will Support Cash Flows - S&P Global Ratings’ Credit Research

Bulletin: Bormioli Pharma's Acquisition Of Germany-Based R&G Is In Line With Its Growth Strategy And Will Support Cash Flows

Bulletin: Bormioli Pharma's Acquisition Of Germany-Based R&G Is In Line With Its Growth Strategy And Will Support Cash Flows - S&P Global Ratings’ Credit Research
Bulletin: Bormioli Pharma's Acquisition Of Germany-Based R&G Is In Line With Its Growth Strategy And Will Support Cash Flows
Published Sep 17, 2019
2 pages (1074 words) — Published Sep 17, 2019
Price Free  |  Buy this Report Now

About This Report

  
Abstract:

LONDON (S&P Global Ratings) Sept. 17, 2019--S&P Global Ratings said today that Bormioli Pharma SpA's acquisition of drug packaging company R&G Beteiligungs GmbH is largely in line with our base-case scenario, and would strengthen cash flows. We expect the acquisition to have a minimal effect on credit metrics, given the scale and equity contribution, with no impact on the rating (B/Stable/-). We estimate debt to EBITDA will increase from our base case by about 0.1x to about 6.9x by year-end 2019, before improving to about 6.0x for 2020. The revenue contribution from R&G, which was €25.6 million in 2018, should increase the group's free operating cash flow by about €4 million in 2020. The acquisition is consistent with Bormioli Pharma's

  
Report Type:

Bulletin

Issuer
Bormioli Pharma SpA
Sector
Global Issuers
Country
Italy
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Bormioli Pharma's Acquisition Of Germany-Based R&G Is In Line With Its Growth Strategy And Will Support Cash Flows" Sep 17, 2019. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Bormioli-Pharma-s-Acquisition-Of-Germany-Based-R-G-Is-In-Line-With-Its-Growth-Strategy-And-Will-Support-Cash-Flows-2300572>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Bormioli Pharma's Acquisition Of Germany-Based R&G Is In Line With Its Growth Strategy And Will Support Cash Flows Sep 17, 2019. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Bormioli-Pharma-s-Acquisition-Of-Germany-Based-R-G-Is-In-Line-With-Its-Growth-Strategy-And-Will-Support-Cash-Flows-2300572>
  
Free
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.