PresseBox
Pressemitteilung BoxID: 760267 (Schaeffler AG)
  • Schaeffler AG
  • Industriestraße 1-3
  • 91074 Herzogenaurach
  • http://www.schaeffler-group.com
  • Ansprechpartner
  • Christoph Beumelburg
  • +49 (9132) 82-5000

Moody's upgrades Schaeffler AG to Ba2

(PresseBox) (Herzogenaurach, ) The rating agency Moody’s Investors Service (Moody’s) has upgraded Schaeffler AG’s corporate family rating (CFR) to Ba2 from Ba3 and the probability of default rating (PDR) to Ba2-PD from Ba3-PD. The rating upgrades reflect the envisaged deleveraging of indebtedness at Schaeffler AG, stemming from the proceeds of the successful listing of Schaeffler AG shares at the Frankfurt Stock Exchange on October 9, 2015.

Concurrently, Moody’s confirmed Schaeffler AG’s and Schaeffler Finance B.V.’s senior secured debt ratings of Ba2 and senior unsecured debt ratings of B1. The outlook on all ratings is stable.

Dr. Ulrich Hauck, CFO of Schaeffler AG, said: “We welcome the rating upgrade by Moody’s. It confirms that we are on the right track with the enhancement of our capital structure.”

The credit rating by Moody’s is a financial indicator to investors and potential investors of debt securities such as bonds to assess the likelihood the debt will be repaid.

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Schaeffler AG

The Schaeffler Group is a leading global integrated automotive and industrial supplier. The company stands for the highest quality, outstanding technology, and strong innovative ability. The Schaeffler Group makes a key contribution to "Mobility for tomorrow" with high-precision components and systems in engine, transmission, and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The company generated sales of approximately EUR 12.1 billion in 2014. With around 84,000 employees, Schaeffler is one of the world's largest technology companies in family ownership and, with approximately 170 locations in 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies.