Engineering, one of Italy’s leading Digital Transformation companies with a strong international presence, announces that S&P Global Ratings has affirmed the Group’s ratings at “B-” and revised the Outlook to Stable from Negative.

The Agency’s decision reflects expectations of a gradual reduction in the Group’s financial leverage over the coming years, supported by continued revenue expansion, improving profitability, and enhanced financial discipline. This trend will also benefit from declining non-recurring expenses and normalized investment levels, with a positive impact on cash generation capacity.

In support of its assessment, S&P also highlights Engineering’s established customer relationships, with a churn rate below 2%, a comfortable liquidity position, supported, inter alia, by sizable cash balances and an undrawn revolving credit facility (RCF), as well as a more favorable debt profile, with no significant maturities before 2028, also thanks to the refinancing completed at the beginning of last year.