Evonik achieves investment grade rating
The international rating agency Standard & Poor's (S&P) has upgraded its credit rating for Evonik Industries AG by two notches to BBB with a stable outlook, giving the company its first investment grade rating. S&P cites the significant reduction in debt and good operating performance as the reasons for the upgrade.
Evonik has thus achieved its target of an investment grade rating in just under eight months since its first rating assessment by S&P. Dr. Wolfgang Colberg, cfo of Evonik Industries, is very pleased with the rating: "This investment grade rating confirms our strategic focus on speciality chemicals with a broadly diversified product and customer portfolio and rewards the significant reduction in debt over the past two years." The investment grade rating improves Evonik’s access to the debt capital markets.
Moody’s current rating for Evonik Industries AG is Ba1 with a positive outlook.