Dürr AG — Capital/Financing Update 2005

Oct 27, 2005

News Details

Ad-hoc | 27 October 2005 17:12

Dürr AG: Moody’s puts Dürr rating on the same level as S&P

Ad hoc announcement §15 WpHG Rating Dürr AG: Moody’s puts Dürr rating on the same level as S&P Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Moody’s puts Dürr rating on the same level as S&P Stuttgart, October 27, 2005 – Moody’s has downgraded the Dürr AG company rating from “B1” to “B2”. The rating agency notified the company of this action this afternoon. The outlook on the company rating is negative. Standard & Poor’s had adjusted its rating in August from “B+” to “B”. According to Dürr Moody’s rating has already been taken into account by the market. The reasons cited for Moody’s decision are the reduced liquidity headroom, the in-crease in leverage and potential risks in the implementation of the Group’s FOCUS program. Moody’s has adjusted the issue rating for Dürr’s subordinated bond placed in July 2004 for EUR 200 million from “B3” to “Caa1”. The rating agency assessed the outlook for the issue rating as negative. The Group’s FOCUS program has been ongoing since September 2005. According to the management, FOCUS is addressing all fundamental factors that have caused the rating adjustment. Great emphasis has been placed on the implementation of FOCUS. With the implementation of the 18-month-long program significantly positive free cash flows and a clearly improved profitability are expected. Contact person: Dürr AG Günter Dielmann Corporate Communications & Investor Relations Tel.: +49 (0)711 136-1785 Fax: +49 (0)711 136-1034 E-Mail:corpcom@durr.com Dürr Aktiengesellschaft Otto-Dürr-Strasse 8 70435 Stuttgart – Zuffenhausen Deutschland ISIN: DE0005565204 WKN: 556520 Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Stuttgart; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg und Hannover End of ad hoc announcement (c)DGAP 27.10.2005 271712 Okt 05