- Language: English
- Published: October 2012
- Region: Germany
Research Update: Germany-Based Heidelberger Druckmaschinen AG Assigned 'B+' Long-Term Rating; Outlook Stable Mar 11
- Published: March 2011
- Standard & Poors
Germany-based printing equipment company Heidelberger Druckmaschinen AG has announced plans to refinance its existing debt facilities with a -300 million notes issue and a -500 million syndicated bank loan. We are assigning our 'B+' long-term corporate credit rating to the company and, at the same time, we are assigning our 'B-' issue rating and a '6' recovery rating to the proposed -300 million notes. The stable outlook reflects our expectation that the company can successfully address its major maturities in July 2012, as well as continuing to report cash flows and credit metrics that are commensurate with an "aggressive" financial risk profile. On March 29, 2011, Standard and Poor's Ratings Services assigned its 'B+' long-term corporate credit rating to Germany-based...
Companies mentioned in this report are: Heidelberger Druckmaschinen AG
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Heidelberger Druckmaschinen AG