The international rating agency Moody's has given Evonik Industries AG an investment grade rating for the first time. Moody's has upgraded its rating from Ba1 with a positive outlook to Baa3 with a positive outlook. Last week Standard & Poor's raised its rating significantly to BBB with a stable outlook. Evonik now has investment grade ratings from two of the leading rating agencies.
Dr. Wolfgang Colberg, CFO of Evonik Industries, is very pleased with the upgrade: "An investment grade rating from both agencies is a very positive signal to the debt capital markets and confirms our strategic focus on specialty chemicals."
In addition to the focus on chemicals, Moody's refers to active management of pension obligations as a reason for its upgrade.
It also highlights Evonik's good liquidity situation.
Evonik is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, it has energy and residential real estate operations. Our performance is shaped by creativity, specialization, reliability and continuous self-renewal.
Evonik is active in over 100 countries around the world. In fiscal 2010 more than 34,000 employees generated sales of around €13.3 billion and an operating profit (EBITDA) of about €2.4 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.