Creditreform Rating has changed the outlook of the unsolicited corporate issuer rating of VINCI S.A. (VINCI) from stable to negative. This change is based on an expected substantial decline in traffic and partially in future order intakes, as well as projects on hold due to current border and social restrictions worldwide and an expected global economic downturn caused by the COVID-19 pandemic in 2020. We anticipate that these temporary effects will lower the revenues and weaken the earnings capacity of VINCI, adversely affecting its financial metrics. However, we see the Company as well-prepared for the crisis, due to its sound financial metrics, in particular its liquidity and credit facilities, confirming its rating at A-.
Creditreform Rating has carried out an unsolicited rating of VINCI S.A. The rating has been set to A- with stable outlook.
Creditreform Rating has carried out an unsolicited corporate rating of VINCI S.A.