Moody's upgrades Evonik

Moody's Investors Service has today upgraded senior unsecured ratings of Evonik Industries AG and its subsidiaries to Baa2 from Baa3 and the rating on its debt issuance program to provisional Baa2 from provisional Baa3.

The outlook remains positive.

"Moody's has upgraded Evonik's ratings following the announcement of the agreed disposal of its real estate assets, which we believe will conclude the repositioning of the company as a chemicals-focused business and significantly lower its liabilities" Moody's vice president, senior credit officer and lead analyst for Evonik Elena Nadtotchi said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.