Market update
November 28 2023 - 2:44AM
Market update
- S&P
changed Atos’ rating from BB to BB- / maintaining CreditWatch
Negative / Negligible impact on interest expense.
- Ongoing
exclusive discussions with EPEI on certain terms related to the
contemplated sale of Tech Foundations.
- Additional sales of assets
being considered to address upcoming debt maturities in 2025 as
added contingencies.
Paris, November 28, 2023 – Atos
is providing a market update based on recent developments in the
media as well as the S&P change ratings:
- S&PGR changed Atos’
rating from 'BB' to 'BB-' maintaining CreditWatch
Negative. The group confirms the impact on interest expense is
negligible and expected to be approximately €6 million per
year. The Atos group also confirms it has the necessary
liquidity to meet its financial obligations over the next twelve
months and is actively working to address its debt maturities in
2025 as stated on October 16th.
- Atos is in advanced
discussions with EPEI to amend and simplify certain terms
related to the contemplated sale of Tech Foundations. The group
will share the outcome of those discussions in due course. To
date, Atos has filed all regulatory documents and have already
received approvals in the majority of its key
jurisdictions.
- Atos examining added
initiatives to address the group capital raising plan and upcoming
debt maturities in 2025. The Group’s policy is to fully
cover its estimated liquidity needs with long-term borrowings, cash
and other appropriate capital market instruments, in order to have
sufficient flexibility to finance its operations and future
developments. Atos is assessing the feasibility to access the debt
and equity capital markets, and/or is considering the sale of
additional assets, to address its capital raising plan, the €1.5
billion term loan A maturing in January 2025 (after the two 6-month
extensions available to the Company) and the €750 million bonds
maturing in May 2025.
***
About Atos
Atos is a global leader in digital
transformation with c.105,000 employees and annual revenue of c. €
11 billion. European number one in cybersecurity, cloud and
high-performance computing, the Group provides tailored end-to-end
solutions for all industries in 69 countries. A pioneer in
decarbonization services and products, Atos is committed to a
secure and decarbonized digital for its clients. Atos is a SE
(Societas Europaea) and listed on Euronext Paris.
The purpose of Atos is to help design the future
of the information space. Its expertise and services support the
development of knowledge, education and research in a multicultural
approach and contribute to the development of scientific and
technological excellence. Across the world, the Group enables its
customers and employees, and members of societies at large to live,
work and develop sustainably, in a safe and secure information
space.
Contacts
Investors: investors@atos.net
Media: globalprteam@atos.net
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