Moody's rates KUKA notes B3

Moody's Investors Service said it assigned a provisional B2 corporate family rating and a provisional B2 probability of default rating to KUKA AG, along with a provisional B3 (LGD 4, 60%) rating to its proposed €200 million senior secured notes.

The outlook is stable.

The ratings reflect KUKA's solid market position in its key segments, namely robotics and systems, Moody's said, along with its high level of innovation and technology leadership.

The ratings also consider KUKA's successful implementation of a capital increase in June 2010, which resulted in proceeds of €45 million, the agency said.

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