Moody’s lifts Gerresheimer to Baa3

Moody's Investors Service said it upgraded the ratings of Gerresheimer AG to Baa3 from Ba1.

The outlook is stable.

The action was prompted by improvements to the group's credit metrics, reflecting its prudent financial policies, diversified revenue base and the positive industry fundamentals underlying the company's key end markets.

"We have upgraded Gerresheimer's ratings because its business model has proven resilient over the past few years, despite challenging economic conditions," Matthias Volkmer, Moody's vice president, senior analyst and lead analyst for Gerresheimer, said in a news release. "We expect that gradual performance improvements will allow the group to maintain credit metrics that are in line with its low investment grade rating."

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