Fitch affirms Schaeffler, IHO Verwaltungs

Fitch Ratings said it affirmed Schaeffler AG's long-term issuer default rating at BBB- with a stable outlook.

The agency also affirmed the long-term issuer default rating of Schaeffler's immediate parent and 75.1% owner, IHO Verwaltungs GmbH, at BB+ with a stable outlook.

Schaeffler's ratings reflect its solid business profile, exemplified by its large size, good customer diversification and strong positions in automotive and industrial supply markets, coupled with a moderate financial profile, Fitch said.

IHO's ratings reflect the weaker financial risk profile of the consolidated group relative to Schaeffler's standalone financial risk profile, the agency added.

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