Samsonite International S.A. Outlook Revised To Positive; Improving Operations, Lower Leverage; ?BB? Rating Affirmed - S&P Global Ratings’ Credit Research

Samsonite International S.A. Outlook Revised To Positive; Improving Operations, Lower Leverage; ?BB? Rating Affirmed

Samsonite International S.A. Outlook Revised To Positive; Improving Operations, Lower Leverage; ?BB? Rating Affirmed - S&P Global Ratings’ Credit Research
Samsonite International S.A. Outlook Revised To Positive; Improving Operations, Lower Leverage; ?BB? Rating Affirmed
Published Dec 11, 2023
4 pages (1933 words) — Published Dec 11, 2023
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Samsonite International S.A. recently reported strong operating performance in the third quarter (ended Sept. 30) due to both revenue growth and ongoing operational efficiency trends, which enabled it to accelerate its deleveraging. We now expect the company's adjusted leverage to be close to 2x at the end of 2023 compared to our previous forecast of 2.7x. Therefore, we revised our outlook to positive from stable and affirmed all ratings, including our 'BB' issuer credit rating. The positive outlook reflects the potential for an upgrade if Samsonite continues to demonstrate sustained strong performance amid stable demand in the travel industry. NEW YORK (S&P Global Ratings) Dec. 11, 2023--S&P Global Ratings today took the rating actions listed above. The outlook revision reflects

  
Brief Excerpt:

...December 11, 2023 - Samsonite International S.A. recently reported strong operating performance in the third quarter (ended Sept. 30) due to both revenue growth and ongoing operational efficiency trends, which enabled it to accelerate its deleveraging. - We now expect the company's adjusted leverage to be close to 2x at the end of 2023 compared to our previous forecast of 2.7x. - Therefore, we revised our outlook to positive from stable and affirmed all ratings, including our '##' issuer credit rating. - The positive outlook reflects the potential for an upgrade if Samsonite continues to demonstrate sustained strong performance amid stable demand in the travel industry. NEW YORK (S&P Global Ratings) Dec. 11, 2023--S&P Global Ratings today took the rating actions listed above. The outlook revision reflects Samsonite's ongoing strong recovery in operating performance driving improving credit metrics. For the trailing 12 month (TTM) period ended Sept 30, 2023, S&P Global Ratings-adjusted leverage...

  
Report Type:

Ratings Action

Ticker
SMSEY
Issuer
Samsonite International S.A.
GICS
Apparel, Accessories & Luxury Goods (25203010)
Sector
Global Issuers
Country
Luxembourg
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Samsonite International S.A. Outlook Revised To Positive; Improving Operations, Lower Leverage; ?BB? Rating Affirmed" Dec 11, 2023. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Samsonite-International-S-A-Outlook-Revised-To-Positive-Improving-Operations-Lower-Leverage-BB-Rating-Affirmed-3101050>
  
APA:
S&P Global Ratings’ Credit Research. (). Samsonite International S.A. Outlook Revised To Positive; Improving Operations, Lower Leverage; ?BB? Rating Affirmed Dec 11, 2023. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Samsonite-International-S-A-Outlook-Revised-To-Positive-Improving-Operations-Lower-Leverage-BB-Rating-Affirmed-3101050>
  
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