S&P Global Ratings has revised its outlook on ALD, which offers leasing and fleet management services across 43 countries including Hungary, from stable to positive, citing ALD’s steady growth and business diversification, according to a press release sent to the Budapest Business Journal.
ALD offers leasing and fleet management services to a client base of large corporates, SMEs, professionals and private individuals. With 6,000 employees worldwide, ALD manages 1.44 million vehicles (as of the end of June 2017).
According to the press release, S&P Global Ratings revised its outlook on ALD from stable to positive and affirmed ALD’s BBB/A-2 long and short-term credit ratings.
The credit rating agency notes that ALD has been enjoying robust, profitable growth over the past several years, and ranks among the largest full-service leasing companies worldwide. It sees a possibility that ALD could overall transform into a larger, more diversified player in the next 24 months, which may lead S&P Global Ratings to upgrade the company.
The positive outlook reflects S&P’s expectation that ALD could continue posting sound performance and EBITDA growth thanks to business expansion, the press release concludes.