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GRENKE AG: S&P confirms BBB+/A-2 rating of GRENKE AG and raises hybrid bond rating following new valuation methodology

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DGAP-News: GRENKE AG / Key word(s): Rating
16.12.2021 / 19:23
The issuer is solely responsible for the content of this announcement.

S&P confirms BBB+/A-2 rating of GRENKE AG and raises hybrid bond rating following new
valuation methodology

Baden-Baden, December 16, 2021: GRENKE AG, global financing partner for small and medium-sized enterprises, today reports a new Rating Action from Standard & Poor's. S&P Global Ratings affirmed today GRENKE AG's "BBB+/A-2" long- and short-term issuer credit ratings. S&P left the outlook for the long-term rating unchanged at "negative". The issuer rating for the hybrid bonds was raised from "BB-" to "BB".

Prompting the action is a new rating methodology for banks and financial institutions published by Standard & Poor's on December 9, 2021, which, among other things, allows S&P to include additional credit factors when determining the stand-alone credit profile (SACP). On this basis, S&P Global Ratings has also raised GRENKE AG's stand-alone rating by one notch. S&P justifies the adjustment by stating that it continues to expect higher profitability and better risk-adjusted margins at GRENKE compared to financial institutions with similar credit ratings, and that this assessment had not yet been taken into account in the SACP.

S&P's latest report can be downloaded at https://www.grenke.com/investor-relations/debt-capital/.

For further information, please contact:

GRENKE AG

 

Team Investor Relations

Press contact
Stefan Wichmann
Executive Communications Consulting

Neuer Markt 2

Neuer Markt 2

76532 Baden-Baden

76532 Baden-Baden

Tel: +49 7221 5007-204

Mobile: +49 (0) 171 20 20 300

Email: investor@grenke.de

Email: presse@grenke.de

Website: www.grenke.de

 

 

About GRENKE

The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE's products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE's activities.

Founded in 1978 in Baden-Baden, the Group operates in 33 countries and employs more than 1,800 staff (full-time equivalents) worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).


16.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

GRENKE AG

Neuer Markt 2

76532 Baden-Baden

Germany

Phone:

+49 (0)7221 50 07-204

Fax:

+49 (0)7221 50 07-4218

E-mail:

investor@grenke.de

Internet:

www.grenke.de

ISIN:

DE000A161N30

WKN:

A161N3

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1259104


 

End of News

DGAP News Service

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