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Stock impact report

S&P Global Ratings Reaffirms BB+ Rating on Coty Inc (COTY) [Yahoo! Finance]

Coty Inc. Class A (COTY) 
Last coty inc. class a earnings: 2/5 06:30 am Check Earnings Report
US:NYSE Investor Relations: investors.coty.com
Company Research Source: Yahoo! Finance
on Coty Inc. (NYSE:COTY). This comes as the company, on December 19, announced selling the remaining 25.8% stake in Wella to KKR-managed capital accounts and investment affiliates. According to the company's press release, the company will receive an upfront cash payment of $750 million, along with 45% from any proceeds from further sale or an IPO of the business. Management believes that Wella's strong recent and expected performance, along with its market valuation, will result in substantial cash proceeds for the company. S&P Global Ratings noted that the sale is expected to bring the company's leverage to the high-3x area by the end of 2025. The firm believes that the company will use the cash received from the sale of its stake to address debt maturities. Moreover, the firm also likes the additional 45% share that Coty Inc. (NYSE:COTY) is expected to receive in the event of further sale or IPO. S&P Global believes that this will allow the company to further address its debt i Show less Read more
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