Moody’s changes Selecta's outlook to positive from stable
Moody’s changes Selecta's outlook
to positive from stable
Cham, 15. April 2024. Selecta Group, a Swiss-based Foodtech leader with a world-class distribution network in Europe, announces Moody’s Ratings affirmation of its Caa1 corporate family rating (CFR) and Caa1-PD probability of default rating (PDR). At the same time, Moody's has affirmed the Caa1 rating of the backed senior secured first lien notes due April 2026, the Caa3 rating of the backed senior secured second lien notes due July 2026, and the B1 rating of the €150 million backed super senior secured revolving credit facility (SSRCF) due January 2026. Notably, the outlook has been upgraded to positive from stable.
The revised positive outlook is a testament to Moody’s confidence in Selecta's ability to maintain robust liquidity and consistently strong operating performance, resulting in enhanced credit metrics and cash flow generation. Selecta continues to strengthen its position as Europe´s Foodtech leader by leveraging execution excellence, superior client service and world-class distribution as growing its tech-enabled solutions footprint.
CEO Selecta Group Christian Schmitz says, “We are pleased with Moody’s affirmation and the upgrade to a positive outlook, recognizing Selecta's commitment to financial strength and operational performance. This underscores our dedication to sustained growth and value creation for our stakeholders”.
Selecta Group AG
Sarina Künzli Group Communication Leader Sarina.kuenzli@selecta.com
Angela Cinelli Investor Relations investor.info@selecta.com
Alte Steinhauserstrasse 14 6330 Cham – Switzerland +41 78 818 31 16 www.selecta.com
About Selecta Group
Headquartered in Switzerland since 1957, Selecta Group is a Foodtech company with a leading route based, self-service distribution network in Europe, offering innovative convenience food services and world-class quality coffee brands in the workplace and public spaces. Active in the food tech business we continuously push on new innovations and solutions, we serve premium coffee and beverages, snacks, and fresh meals to more than 10 million people in 16 countries across Europe every day. With an annual turnover of €1.4 billion, we owe our success to our ca. 6,200 highly skilled, dedicated, and passionate Selecta employees who are committed to creating millions of moments of joy for our clients and their consumers every day. Sustainability is an integral part of the way we do business, focused on the key areas in which we can make a positive difference. For more information, please visit www.selecta.com.