ATO Atos SE

Atos expects limited impacts from change in its credit rating

Press Release

Atos expects limited impacts from change in its credit rating

Paris – July 13, 2022 - Today, S&P Global lowered Atos credit rating from BBB- with a negative outlook, to BB with a negative outlook. This rating change should have limited impacts on its operations and financing.

The impact of this rating change on Atos debt structure and cost of debt is very limited, as the only current debt instrument which cost is subject to a rating grid is the €2.4 bn revolving credit facility, that remains almost fully undrawn as of today. Bond terms remain unchanged.

On June 14th, 2022, Atos presented its project under study to split into two publicly listed companies and to implement an ambitious transformation plan. This project, which has already triggered tremendous motivation and engagement from employees, and has been very well received by clients, is unaffected by today’s rating change, and so are the medium-term financial objectives communicated on June 14th.

On June 28th, Atos mandated two leading banks, BNP Paribas and JP Morgan, in order to arrange the syndication of the new debt package outlined on June 14th. This syndication is in progress.

As highlighted by S&P Global’s statement, Atos’ liquidity is strong and its financial policy is supportive. In particular, S&P Global stated that Atos' planned liquidity should provide the Group with the means to deliver its transformation plan, with its planned €1.5 billion term loan, €900 million revolving credit facility, reduced commercial paper utilization, and €700 million in non-core assets disposals.

Nathalie Senechault, Group CFO, commented: “Atos’ financing strategy remains unchanged in light of this credit rating downgrade. Currently, with its cash and undrawn revolving credit facility, Atos has got ample liquidity to cater for its needs.”

For full details, please refer to the press release on S&P Global’s website.

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About Atos

Atos is a global leader in digital transformation with 111,000 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 71 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), listed on Euronext Paris and included in the CAC 40 ESG and Next 20 indexes.

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

Investor Relations: Thomas Guillois – thomas.guillois@atos.net - +33 6 21 34 36 62

Media: Anette Rey | anette.rey@atos.net | +33 6 69 79 84 88

 

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