GCR has released the September 2020 Omnia Holdings Limited (“Omnia”) report, which outlines the factors underpinning the issuer’s recent upgrade, and conditions that could result in migration in the credit risk profile over the outlook period. In GCR’s view, the marked improvement in Omnia’s financial flexibility is underpinned by demonstrated shareholder support, well-entrenched relationships with funding counterparties, the fundamental de-risking of the working capital cycle, and rationalisation of underlying operations.
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