Regulatory Filings • Dec 10, 2012
Regulatory Filings
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publication: 10.12.2012 18:00 source: http://adhoc.pressetext.com/news/1355158800485 keywords: Wienerberger AG / external rating / Standard & Poor's / end of cooperation
Adhoc announcement according to article 48d section 1 BörseG
After extensive analysis, Wienerberger AG has decided to terminate its corporate rating by Standard & Poor's ("S&P"). The latest long-term rating issued by S&P at the beginning of September confirmed Wienerberger AG's BB rating and stable outlook. The rating relationship with Moody's (Ba2, stable outlook) remains unchanged. The decisive factors for this step were economic considerations and the declining importance of ratings for the securities issued by the company.
Willy Van Riet, Chief Financial Officer of Wienerberger AG, does not anticipate any change in the Group's financing strategy from the end of the S&P rating: "Our financing strategy has focused for many years on the issue of smaller, regional bonds and on bank loans under 250 million Euro. In this segment, external ratings do not play a major role in establishing the conditions or determining the success of the issue. In fact, only eight of 62 bond issuers in Austria are rated. These companies have successfully placed in part very large issues at good conditions, even without a rating. If Wienerberger decides at some point in the future to place larger bonds on the international markets, investors can still rely on a rating by a reputable external agency. I therefore expect no negative effects at all on Wienerberger's capital market access or financing costs in the future."
Wienerberger is the world's largest producer of bricks (Porotherm, Terca) and the market leader for clay roof tiles (Koramic, TONDACH) in Europe and concrete pavers (Semmelrock) in Central-East Europe. In pipe systems (Steinzeug-Keramo ceramic pipes and Pipelife plastic pipes), Wienerberger is one of the leading suppliers in Europe. In 2011 the Wienerberger Group generated revenues of 1,915 million Euro and operating EBITDA of 240 million Euro with 226 plants.
Barbara Braunöck, Head of Corporate Communications T +43 1 601 92 - 471 | [email protected]
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Wienerberger AG is a pure free float company, whereby the majority of shares are held by Austrian and international institutional investors. Additional information on the shareholder structure is provided under http://www.wienerberger.com/investor-relations/thewienerberger-share/the-wienerberger-share/shareholder-structure.http://www.wienerberger.com/investor-relations/thewienerberger-share/the-wienerberger-share/shareholder-structure.
| emitter: | Wienerberger AG Wienerbergstraße 11 1100 Wien Austria |
|---|---|
| contact person: | Barbara Braunöck |
| phone: | +43-1-60-192-471 |
| e-mail: | [email protected] |
| website: | www.wienerberger.com |
| ISIN(s): | AT0000831706 (share) |
| stock exchanges: | official trade in Vienna |
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