Fitch lifts Wintershall from junk

Fitch Ratings said it upgraded Wintershall Dea Deutschland AG's (DEA) issuer default rating and senior unsecured rating to BBB from BB and removed it from Rating Watch positive.

The company was previously called DEA Deutsche Erdoel AG.

The outlook is stable.

The ratings have simultaneously been withdrawn because the €400 million bond issued by DEA Finance SA was repaid early and the entity is no longer issuing public debt, Fitch said.

The ratings are aligned with that of its parent, Wintershall Dea GmbH, an entity created in May 2019 through the merger of BASF SE's oil and gas business, the agency explained.

© 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.