LANXESS CREDIT RATINGS UPGRADED

Date: Sep 9th  2018   Copy editor: Tyrefull

Three leading rating agencies Standard & Poor’s (S&P Global), Scope Ratings and Moody’s have upgraded the credit rating of specialty chemicals company Lanxess  by one notch each.

Interestingly, the new credit ratings have been given after Lanxess announced its plans to sell its entire stake in ARLANXEO.  In these reports, the agencies especially highlight the company’s strengthened business profile, reduced volatility and improved financial situation.

“With their upgrades, the rating agencies are recognizing our transformation into a more profitable, more stable and more widely diversified specialty chemicals company,” said LANXESS CFO Michael Pontzen.

The European rating agency Scope Ratings raised its rating for LANXESS from “BBB” to “BBB+” today (Wednesday, August 15) – with a stable outlook. Last Thursday (August 9), S&P Global had already upgraded the specialty chemicals company’s credit rating by one notch from “BBB-” to “BBB.” The outlook likewise remains stable. On Friday (August 10), Moody’s followed suit and now rates LANXESS at “Baa2.” Previously, its rating was “Baa3.” Moody’s also gives a stable outlook.

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