Financial Policy

Funds are then channelled to where they are needed, either by way of our internal cash pool or through individual shareholder loans. In turn, subsidiaries generally invest their own liquidity through the Evonik cash pool that contributes to efficient liquidity management.

Evonik received investment-grade ratings by both rating agencies S&P and Moody's. A solid investment grade rating is a central element of Evonik's corporate strategy. To such extent, the company intends to keep its leverage ratio, defined as net total debt (incl. pensions)/ Adjusted EBITDA, at less than 2.5x and to remain a reliable partner of both its bond investors and banks.