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 rating agencies S&P and Moody's. Maintaining a solid investment grade rating is a central element in our financing strategy. In this way we gain access to a broad investor base on appropriate financing terms and thus maintain our financial flexibility. A solid investment grade rating gives banks, investors, customers and suppliers a reliable basis for a long-term business relationship with Evonik.