S&P affirms Gerresheimer

Standard & Poor's said it affirmed its B+ long-term corporate credit ratings on Gerresheimer Alpha GmbH and its fully owned subsidiary Gerresheimer Holdings GmbH.

The ratings were removed from CreditWatch, where they were placed with negative implications on Oct. 6, following the group's announcement that it was considering acquiring Wilden AG in a fully-debt financed transaction, S&P said.

The outlook is negative.

S&P added that the rating affirmation reflects its view that, although credit measures will continue to be weak for the ratings pro forma the acquisition of Wilden, we expect a growth in earnings to drive an improvement over the next two years to levels more in line with the ratings.

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