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Evonik Industries AG
Capital/Financing Update • May 10, 2016
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Capital/Financing Update
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News Details
Corporate | 10 May 2016 16:30
Evonik Industries AG: Moody’s upgrades Evonik to Baa1 with Stable Outlook
DGAP-News: Evonik Industries AG / Key word(s): Rating
2016-05-10 / 16:30
The issuer is solely responsible for the content of this announcement.
May 10, 2016
Moody’s upgrades Evonik to Baa1 with Stable Outlook
The rating agency Moody’s upgraded the credit rating of Evonik Industries AG from Baa2 with a positive outlook to Baa1 with a stable outlook. The rating upgrade followed our announcement to acquire the specialty & coating additives business (Performance Materials Division) of Air Products and Chemicals, Inc.
The agency expects that the acquisition will enhance the specialty chemicals franchise of Evonik and strengthen Evonik’s business profile by adding scale and diversity.
Ute Wolf, CFO of Evonik comments: “The rating upgrade from Moody’s acknowledges our consistent strategy towards a portfolio of high-margin resilient businesses.
Maintaining a solid investment grade rating forms a central element of Evonik’s corporate strategy.”
The rating agency Standard & Poor’s already confirmed the credit rating of Evonik Industries AG at BBB+ with a stable outlook on May 6, 2016.
Company information
Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2015 more than 33,500 employees generated sales of around EUR13.5 billion and an operating profit (adjusted EBITDA) of about EUR2.47 billion.
Disclaimer
In so far as forecasts or expectations are expressed in this Investor Relations News or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.
Contact:
| Tim Lange Head of Investor Relations Phone +49 201 177-3150 [email protected] |
| E vonik Industries AG Rellinghauser Straße 1-11 45128 Essen Germany Phone +49 201 177-01 Telefax +49 201 177-3475 www.evonik.com Supervisory Board Dr. Werner Müller, Chairman Executive Board Dr. Klaus Engel, Chairman Christian Kullmann Dr. Ralph Sven Kaufmann Thomas Wessel Ute Wolf Registered office Essen Registered court Essen local court Commercial registry B 19474 VAT ID no. DE 811160003 |
2016-05-10 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.
Media archive at www.dgap-medientreff.de and www.dgap.de
| Language: | English |
| Company: | Evonik Industries AG |
| Rellinghauser Straße 1-11 | |
| 45128 Essen | |
| Germany | |
| Phone: | +49 (0) 201 177-01 |
| Fax: | +49 (0) 201 177-3475 |
| E-mail: | [email protected] |
| Internet: | www.evonik.com |
| ISIN: | DE000EVNK013, XS0911405784 |
| WKN: | EVNK01, A1TM7T |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart; Terminbörse EUREX; Luxemburg |
| End of News | DGAP News Service |