Moody’s lifts KUKA to positive

Moody’s Investors Service said it changed to positive from stable the outlook on ratings of KUKA AG.

Moody’s also affirmed its Ba2 corporate family rating and Ba2-PD probability of default rating.

The outlook revision recognizes the steps KUKA has taken to further grow and diversify its business while keeping its capital structure very strong and liquidity healthy, the agency said.

Going forward, KUKA’s dependence on the automotive industry will decrease with a focus shifted to inherently more stable end markets, Moody’s said.

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