Fitch Affirms Imperial Brands at 'BBB'; Outlook Stable
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Fitch Ratings has affirmed Imperial Brands PLC's 'BBB' rating with a stable outlook, reflecting its focus on cash-generative tobacco markets and progress in next generation products. The rating considers IMB's conservative financial structure and disciplined capital allocation. Despite regulatory risks, IMB's strategic focus on combustibles in developed markets reduces volatility. The company plans significant share buybacks and expects strong free cash flow, supported by a GBP320 million savings program and targeted growth in next generation products.
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