Investing.com -- Shares of Leonardo (BIT:LDO) climbed over 1% on Monday after Moody’s upgraded the Italian aerospace and defense company’s credit rating to ’Baa2’ while maintaining a positive outlook.
The rating agency’s decision to elevate Leonardo’s creditworthiness reflects an improved assessment of the company’s financial position. Moody’s previous rating for Leonardo stood at ’Baa3’.
Leonardo operates in the aerospace, defense and security sectors, manufacturing helicopters, aircraft, electronics systems and other defense equipment. The company is partially owned by the Italian government through the Ministry of Economy and Finance.
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