07.06.2018
Grammer AG DE0005895403
DGAP-News: Euler Hermes reaffirms Grammer AG's investment-grade BBB rating
DGAP-News: Grammer AG / Key word(s): Miscellaneous
Euler Hermes reaffirms Grammer AG's investment-grade BBB rating
07.06.2018 / 13:57
The issuer is solely responsible for the content of this announcement.
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Euler Hermes reaffirms Grammer AG's investment-grade BBB rating
Amberg, June 7, 2018 - Euler Hermes Rating GmbH has reaffirmed its
investment-grade BBB rating for Grammer AG in its latest report. As
rationale for the favorable rating, the rating agency cites Grammer AG's
strong market position in the Commercial Vehicles Division and the steady
improvement in its market position in the Automotive Division. Looking
forward over the next 12 months, Euler Hermes therefore expects Grammer's
rating to remain stable.
Euler Hermes goes on to highlight the Grammer Group's strong global
footprint with development and production capacities in the main regions
around the world.
It projects moderate medium to long-term global growth in sales of passenger
and commercial vehicles, from which Grammer stands to benefit as a supplier
of components. The rating agency considers the Company's diversification
across various products, customers and regions to constitute a further
strength.
Euler Hermes Rating currently does not see any reason to revise its risk
assessment in light of the takeover offer submitted by Jiye Auto Parts GmbH,
a company associated with Grammer AG's strategic partner Ningbo Jifeng in
China.
In summary, it still considers the business risk to which Grammer AG is
exposed to be slightly elevated. Euler Hermes sees the Company's financial
risk as moderate to low due to its satisfactory earnings potential, the
highly satisfactory to good capital structure and gearing as well as its
good financial flexibility. In addition, Grammer AG has good structures,
processes and systems for addressing operational risks.
Company profile
Located in Amberg, Germany, Grammer AG specializes in the development and
production of components and systems for automotive interiors as well as
suspension driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console
systems and high-quality interior components and operating systems to
premium automakers and automotive system suppliers. The Commercial Vehicle
Division comprises seats for the truck and offroad seat segments (tractors,
construction machinery, forklifts) as well as train and bus seats.
With 13,000 employees, Grammer operates in 19 countries around the world.
Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich
stock exchanges via the electronic trading system Xetra.
Contact:
GRAMMER AG
Ralf Hoppe
Phone: 0049 9621 66 2200
[email protected]
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07.06.2018 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Grammer AG
Georg-Grammer-Str. 2
92224 Amberg
Germany
Phone: +49 (0)9621 66-0
Fax: +49 (0)9621 66-1000
E-mail: [email protected]
Internet: www.grammer.com
ISIN: DE0005895403, DE0005895403
WKN: 589540, 589540
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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