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Grenke AG
Regulatory Filings • Dec 16, 2021
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Corporate | 16 December 2021 19:23
GRENKE AG: S&P confirms BBB+/A-2 rating of GRENKE AG and raises hybrid bond rating following new valuation methodology
DGAP-News: GRENKE AG / Key word(s): Rating
16.12.2021 / 19:23
The issuer is solely responsible for the content of this announcement.
S&P confirms BBB+/A-2 rating of GRENKE AG and raises hybrid bond rating following new
valuation methodology
Baden-Baden, December 16, 2021: GRENKE AG, global financing partner for small and medium-sized enterprises, today reports a new Rating Action from Standard & Poor’s. S&P Global Ratings affirmed today GRENKE AG’s “BBB+/A-2” long- and short-term issuer credit ratings. S&P left the outlook for the long-term rating unchanged at “negative”. The issuer rating for the hybrid bonds was raised from “BB-” to “BB”.
Prompting the action is a new rating methodology for banks and financial institutions published by Standard & Poor’s on December 9, 2021, which, among other things, allows S&P to include additional credit factors when determining the stand-alone credit profile (SACP). On this basis, S&P Global Ratings has also raised GRENKE AG’s stand-alone rating by one notch. S&P justifies the adjustment by stating that it continues to expect higher profitability and better risk-adjusted margins at GRENKE compared to financial institutions with similar credit ratings, and that this assessment had not yet been taken into account in the SACP.
S&P’s latest report can be downloaded at https://www.grenke.com/investor-relations/debt-capital/.
For further information, please contact:
| GRENKE AG | |
| Team Investor Relations | Press contact Stefan Wichmann Executive Communications Consulting |
| Neuer Markt 2 | Neuer Markt 2 |
| 76532 Baden-Baden | 76532 Baden-Baden |
| Tel: +49 7221 5007-204 | Mobile: +49 (0) 171 20 20 300 |
| Email: [email protected] | Email: [email protected] |
| Website: www.grenke.de |
About GRENKE
The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE’s products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE’s activities.
Founded in 1978 in Baden-Baden, the Group operates in 33 countries and employs more than 1,800 staff (full-time equivalents) worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).
16.12.2021 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.
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| Language: | English |
| Company: | GRENKE AG |
| Neuer Markt 2 | |
| 76532 Baden-Baden | |
| Germany | |
| Phone: | +49 (0)7221 50 07-204 |
| Fax: | +49 (0)7221 50 07-4218 |
| E-mail: | [email protected] |
| Internet: | www.grenke.de |
| ISIN: | DE000A161N30 |
| WKN: | A161N3 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1259104 |
| End of News | DGAP News Service |