21.09.2016
Schaeffler AG DE000SHA0159
DGAP-News: Schaeffler AG: Standard & Poor's upgrades Schaeffler to BB+
DGAP-News: Schaeffler AG / Key word(s): Rating
Schaeffler AG: Standard & Poor's upgrades Schaeffler to BB+
21.09.2016 / 17:44
The issuer is solely responsible for the content of this announcement.
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Standard & Poor's upgrades Schaeffler to BB+
HERZOGENAURACH, September 21, 2016. The rating agency Standard & Poor's has
upgraded Schaeffler's long-term corporate credit rating to BB+ from BB. The
rating upgrade reflects the recent refinancing of IHO Holding and
subsequently the intended reduction of indebtedness at Schaeffler AG of
approximately EUR 1.7 bn.
Standard & Poor's also upgraded the issue ratings of Schaeffler Finance
B.V.'s senior secured notes to BB+ from BB. Schaeffler AG's stand-alone
credit profile was revised upwards to bbb- from bb+. The outlook on all
ratings is stable.
Klaus Rosenfeld, CEO of Schaeffler AG, said: "We are pleased about the
decision of Standard & Poor's to upgrade Schaeffler AG's rating. This is
another step in the right direction."
The credit rating is a financial indicator for debt capital market
investors to assess the repayment likelihood of liabilities.
About Schaeffler
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 technology company generated sales of
approximately EUR 13.2 billion in 2015. With around 85,000 employees,
Schaeffler is one of the world's largest family companies and, with
approximately 170 locations in over 50 countries, has a worldwide network
of manufacturing locations, research and development facilities, and sales
companies.
Contact:
Christoph Beumelburg, SVP Communications, Marketing and Investor Relations,
Schaeffler AG
Tel. +49 9132 82-4440, E-Mail: [email protected]
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21.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Schaeffler AG
Industriestr. 1-3
91074 Herzogenaurach
Germany
Phone: 09132 - 82 0
E-mail: [email protected]
Internet: www.schaeffler.com
ISIN: DE000SHA0159
WKN: SHA015
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange; Luxemburg
End of News DGAP News Service
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504269 21.09.2016
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