Schaeffler AG - Capital/Financing Update 2016

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Corporate | 21 September 2016 17:44

Schaeffler AG: Standard & Poor’s upgrades Schaeffler to BB+

DGAP-News: Schaeffler AG / Key word(s): Rating

2016-09-21 / 17:44

The issuer is solely responsible for the content of this announcement.

Standard & Poor’s upgrades Schaeffler to BB+

HERZOGENAURACH, September 21, 2016. The rating agency Standard & Poor’s has upgraded Schaeffler’s long-term corporate credit rating to BB+ from BB. The rating upgrade reflects the recent refinancing of IHO Holding and subsequently the intended reduction of indebtedness at Schaeffler AG of approximately EUR 1.7 bn.

Standard & Poor’s also upgraded the issue ratings of Schaeffler Finance B.V.’s senior secured notes to BB+ from BB. Schaeffler AG’s stand-alone credit profile was revised upwards to bbb- from bb+. The outlook on all ratings is stable.

Klaus Rosenfeld, CEO of Schaeffler AG, said: “We are pleased about the decision of Standard & Poor’s to upgrade Schaeffler AG’s rating. This is another step in the right direction.”

The credit rating is a financial indicator for debt capital market investors to assess the repayment likelihood of liabilities.

About Schaeffler

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 applications. 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.

Contact:

Christoph Beumelburg , SVP Communications, Marketing and Investor Relations, Schaeffler AG

Tel. +49 9132 82-4440, E-Mail: [email protected]

2016-09-21 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	Schaeffler AG
	Industriestr. 1-3
	91074 Herzogenaurach
	Germany
Phone:	09132 – 82 0
E-mail:	[email protected]
Internet:	www.schaeffler.com
ISIN:	DE000SHA0159
WKN:	SHA015
Indices:	MDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxemburg