Lippstadt, 1 February 2022.
The rating agency Moody's Investors Service (Moody's) has lowered the corporate rating of the internationally positioned automotive supplier HELLA from Baa1/P-2 to level Baa3. However, this confirms the company's Investment Grade Rating overall. Moody's had already communicated on 19 August 2021, that it would review HELLA's rating for a possible downgrade after it was announced that the French technology company FAURECIA would acquire the 60 percent stake held by HELLA pool shareholders.
The confirmation of the Investment Grade Rating means that HELLA's long-term, independent financing continues to be secured. Corresponding clauses in the currently issued bonds, according to which creditors can demand early repayment in the event of a change of control and a subsequent loss of the Investment Grade Rating, will not be triggered. The nominal volume of the bonds currently issued by HELLA amounts to € 800 million.
Further information on the bonds is published in the corresponding prospectuses. These can be found on the HELLA homepage in the Investor Relations
For further information on Moody's decision, please also refer to the press release from Moody's