Contact
QR code for the current URL

Story Box-ID: 813548

Schaeffler AG Industriestraße 1-3 91074 Herzogenaurach, Germany http://www.schaeffler-group.com
Contact Mr Christoph Beumelburg +49 9132 825000
Company logo of Schaeffler AG
Schaeffler AG

Moody's assigns Investment Grade Rating to Schaeffler AG

(PresseBox) (Herzogenaurach, )
The rating agency Moody’s has upgraded Schaeffler AG’s long-term issuer rating to Baa3 (Investment Grade). The rating upgrade reflects the announced refinancing of IHO Holding and the intended reduction of indebtedness at Schaeffler AG in the amount of EUR 674 million.

Moody’s also upgraded the issuance ratings for Schaeffler AG’s and Schaeffler Finance B.V.’s senior secured debt from Ba2 to Baa3 and for the senior unsecured debt from Ba3 to Baa3. The outlook on all ratings is stable.

Klaus Rosenfeld, CEO of Schaeffler AG, said: “We welcome the rating upgrade by Moody’s. It is proof of the strong operating business of Schaeffler AG and the significant improvement of our capital structure.”

Today’s rating decision by Moody’s is subject to the successful closing of the refinancing of the IHO Holding. The credit rating is a financial indicator for debt capital market investors to assess the repayment likelihood of liabilities.

Website Promotion

Website Promotion

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 applica-tions. 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.

The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.
Important note:

Systematic data storage as well as the use of even parts of this database are only permitted with the written consent of unn | UNITED NEWS NETWORK GmbH.

unn | UNITED NEWS NETWORK GmbH 2002–2024, All rights reserved

The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.