Press Release
Atos expects limited impacts from change in its credit rating
Paris – July 13, 2022 – Today, S&P Global lowered Atos credit rating from BBB- with a negative outlook, to BB with a negative outlook. This rating change should have limited impacts on its operations and financing.
The impact of this rating change on Atos debt structure and cost of debt is very limited, as the only current debt instrument which cost is subject to a rating grid is the €2.4 bn revolving credit facility, that remains almost fully undrawn as of today. Bond terms remain unchanged.
On June 14th, 2022, Atos presented its project under study to split into two publicly listed companies and to implement an ambitious transformation plan. This project, which has already triggered tremendous motivation and engagement from employees, and has been very well received by clients, is unaffected by today’s rating change, and so are the medium-term financial objectives communicated on June 14th.
On June 28th, Atos mandated two leading banks, BNP Paribas and JP Morgan, in order to arrange the syndication of the new debt package outlined on June 14th. This syndication is in progress.
As highlighted by S&P Global’s statement, Atos’ liquidity is strong and its financial policy is supportive. In particular, S&P Global stated that Atos’ planned liquidity should provide the Group with the means to deliver its transformation plan, with its planned €1.5 billion term…
