Second promotion in two days for Luxottica Group. The Italian luxury brand, after receiving the Deutsche Bank upgrade yesterday, announces that it has obtained from Standard & Poor's the improvement of its long-term rating from BBB+ to A-. The outlook is stable. According to the rating agency, Luxottica has improved its solvency ratios since its last long-term rating review, which was carried out on March 27, 2013, following another year in which the company has generated solid operating results .
Luxottica operates in an industrial sector that offers solid growth prospects, low market penetration and extraordinary development potential, especially in emerging markets. The long-term A- rating reflects the solidity of Luxottica's business model.
Overall, Standard & Poor's recognized the strength of the company's business profile and the soundness of its financial risk profile thanks to its excellent diversification of earnings sources, which include both emerging and mature markets, strong brand portfolio and well balanced, and to the Group's vertically integrated business model.
In the wake of the second promotion in two days, Luxottica gets off on the right foot in Piazza Affari, where it already gains almost 1% in just a few minutes, bringing the 40 euro share back closer to 39,18 euro at around 9,30.
