GRENKE AG (FRA:DE000A16) EQS-News: GRENKE AG: S&P lowered ratings for GRENKE AG to “BBB/A-2” – New outlook is “stable”
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EQS-News: GRENKE AG
/ Key word(s): Rating
S&P lowered rating for GRENKE AG to “BBB/A-2” – New outlook is “stable” Baden-Baden, March 23, 2023: GRENKE AG, global financing partner for small and medium-sized enterprises, reports the latest rating action by Standard & Poor's. S&P Global Ratings lowered the long-term issuer credit rating on GRENKE to 'BBB' from 'BBB+', and affirmed its 'A-2' short-term rating. The stable (previously: negative) outlook signifies that GRENKE is expected to maintain its sound risk appetite, asset quality, and high capital buffers, and to gradually recover its solid risk-adjusted profitability over the next two years. The new S&P rating is equivalent to the initial Fitch rating of October last year, in which GRENKE received an investment grade rating of "BBB" with a stable outlook (Fitch rating level "BBB/stable/F2"). Please find the latest S&P report here: https://www.grenke.com/investor-relations/debt-capital For further information, please contact:
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 about 2,000 staff (measured in terms of full-time equivalents) worldwide. GRENKE shares are listed on the Frankfurt Stock Exchange (ISIN DE000A161N30).
23.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| 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: | 1590779 |
| End of News | EQS News Service |
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1590779 23.03.2023 CET/CEST