# ContourGlobal Gets ratings upgrade from S&P Global

- Link: https://www.directorstalkinterviews.com/contourglobal-gets-ratings-upgrade-from-sp-global/412825974
- Published: 2020-05-28T07:34:05+01:00
- Author: Giles Arbor

S&P Global Ratings (S&P) announced yesterday that it has upgraded the **ContourGlobal
plc** (LON:GLO)) issuer credit rating to ‘BB’ from ‘BB-‘, its subsidiary ContourGlobal
Power Holdings (CGPH) to ‘BB’ from ‘BB-‘, and the CGPH senior secured debt to ‘BB
+’ from ‘BB’. The Rating Outlook is Stable.

According to S&P, the upgrade to ‘BB’ from ‘BB-‘ reflects CG’s stable earnings, 
strong operating results, increasing scale, and continuous geographical diversification.
The credit profile also benefits from CG’s position as a resilient player in the
current volatile market environment, and S&P’s expectation that CG’s business fundamentals
will continue to improve through growth and financial discipline.

> **Stefan Schellinger, Chief Financial Officer, said** “ContourGlobal’s rating 
> upgrade highlights the resilience of our business model and stability of our contracted
> cashflows even in a time of global uncertainty. The rating also reflects our robust
> growth plans and significant financial flexibility.”

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