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S&P revises outlook on Fresenius' credit rating

S&P Global Ratings revised its outlook on Germany-based Fresenius SE & Co. KGaA's BBB- long-term corporate credit rating to positive from stable.

The positive outlook on Fresenius reflects the possibility of an upgrade to the company's ratings within 12 to 18 months, helped by S&P Global Ratings' expectations that the company's financial metrics will not significantly deviate from an adjusted debt to EBITDA ratio of 3.5x despite the announcement of three sizable acquisitions in the past 18 months.

Fresenius' ability to absorb large debt-funded acquisitions and to deleverage quickly is also viewed positively by S&P Global Ratings.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.