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-Fitch: Unilever's Strong 2017 Results Do Not Rule Out Downgrade

Feb 05, 2018 - ENP Newswire

Unilever's strong operating results released on 1 February do not rule out a downgrade of the company's 'A+' rating currently on Negative Outlook, given the sharp rise in adjusted net leverage, Fitch Ratings says.

The company's approach to returning money to shareholders and its M&A appetite are likely to be more important for FFO adjusted net leverage - and for the rating - than top-line performance and operating profit improvement.

Operating margins were better than we expected and...