Luxottica: Standard & Poor’s raises its long-term rating to A- on strengthened financial profile
Milan (Italy), January 20, 2014 – Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear announces today that Standard & Poor’s raised its long-term credit rating to A- from BBB+.
The outlook is stable.
Standard & Poor’s disclosed that Luxottica improved its credit metrics since its long-term rating outlook was increased to positive on March 27, 2013, following another year of robust operating results.
Luxottica operates in an industry offering strong growth prospects, low market penetration and untapped potential, especially in emerging markets. The long term A- rating on Luxottica reflects its sound business model. Overall, Standard & Poor’s assessed Luxottica’s business risk profile as strong and its financial risk profile as modest owing to Luxottica’s well diversified earnings base, which includes both mature and emerging markets, the Group’s solid portfolio of brands and Luxottica’s vertically integrated business model.