Advertisement
Canada markets closed

  • S&P/TSX

    21,947.41
    +124.19 (+0.57%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +450.02 (+1.18%)
     

  • CAD/USD

    0.7308
    -0.0006 (-0.08%)
     

  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     

  • Bitcoin CAD

    87,058.51
    +570.91 (+0.66%)
     

  • CMC Crypto 200

    1,327.18
    +50.20 (+3.93%)
     

  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     

  • RUSSELL 2000

    2,035.72
    +19.61 (+0.97%)
     

  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     

  • NASDAQ

    16,156.33
    +315.37 (+1.99%)
     

  • VOLATILITY

    13.49
    -1.19 (-8.11%)
     

  • FTSE

    8,213.49
    +41.34 (+0.51%)
     

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

  • CAD/EUR

    0.6787
    -0.0030 (-0.44%)
     

S&P Global ratings ups Saipem to 'BB' from 'BB-' on planned capital hike

Reuters
·1 min read
FILE PHOTO: A Saipem logo in seen on the bridge of the Saipem 10000 deepwater drillship in Genoa's harbour

MILAN (Reuters) - S&P Global ratings said on Friday it had raised Italy's Saipem to 'BB' from 'BB-' on the energy services group's 2 billion euros ($2.21 billion) capital hike planned for this year to help fund a turnaround plan.

S&P removed the company from CreditWatch with negative implications, adding it had a positive outlook on the stock.

"We could upgrade Saipem if the company delivered on its business plan in the coming six-to-twelve months and restored its historic track record of disciplined execution and better profitability," it added.

($1 = 0.9066 euros)

(Reporting by Federico Maccioni; editing by Agnieszka Flak)