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Moody’s upgrades EMEA outlook to positive

Ratings agency predicts manufacturers’ operating profit will grow 5% in 2017

Gulf News

DUBAI: Moody’s Investors Service on Thursday ungraded its outlook for Europe, the Middle East and Africa (EMEA) from stable to positive for 2017.

The firm noted accelerating profit growth, upbeat sentiment, and improving market conditions, especially in oil and gas and the mining sectors.

Our new positive outlook reflects anticipated growth in EMEA manufacturers’ operating profits by about 5 per cent in 2017, and 5.7 per cent in 2018, as the measures companies took in the past few years to cut costs and streamline operations flow through to the bottom line,” says Martin Kohlhase, Moody’s Vice-President — Senior Credit Officer