Moody's: KUKA view positive

Moody's Investors Service said it affirmed the credit ratings of KUKA AG, including the corporate family and the probability of default ratings at B2.

The outlook was changed to positive from stable.

The rating on the company's senior secured notes due 2017 was affirmed at B3.

Moody's said the change in the outlook was prompted by a strong recovery in KUKA's operating performance and credit metrics in 2011, due in part to positive industry dynamics in the company's main end-markets, the automotive and general industry.

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