Moody’s affirms Knorr-Bremse

Moody's Investors Service said it affirmed Knorr-Bremse AG's A2 long-term issuer rating and its A2 senior unsecured rating.

The outlook remains stable.

“Today's affirmation of Knorr-Bremse's ratings reflects its continued strong operating track record and financial performance as well as the successful completion of the IPO,” Falk Frey, senior vice president at Moody's and lead analyst for Knorr-Bremse, said in a news release.

“The methodology change reflects the fact that Knorr-Bremse derives most of its revenue from the Rail Vehicle Systems division (53% of 2017 revenue), while the Commercial Vehicle Systems division (47%) sells a large part of its products to truck manufacturers, also rated under the global manufacturing companies methodology.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.