Company / 14.07.2021
 
Company / 14.07.2021

Moody's raises outlook for HELLA and reaffirms Baa1 rating

  • Keeping of the corporate rating reflects, among other things, faster economic recovery from the effects of the Corona pandemic
  • Strong financial position and expected improvement in profitability and cash flow lead to stable outlook
07/14/2021
07/14/2021

Lippstadt, July 14, 2021. The rating agency Moody's Investors Service (Moody's) has confirmed the corporate rating of the international automotive supplier HELLA at the Baa1 level and raised the outlook from negative to stable. According to Moody's, key factors in keeping HELLA's rating are the company's faster economic recovery from the consequences of the Corona pandemic and the expected further improvement in the earnings situation as a result of continuous efficiency improvements. The rating agency also emphasizes the unchanged good strategic orientation as well as the above-average business development in the past years. Due to the good financial position and the forecast improvement in profitability and cash flow, Moody's has raised the outlook to stable.

"The renewed confirmation of our corporate rating, but above all the upgrade of the outlook, underscores the long-term, solid financial strategy that HELLA has successfully pursued for many years," says HELLA CFO Bernard Schäferbarthold. "This has not only proved its worth in the past few months, which have been marked by exceptionally strong economic efforts. At the same time, our strong financial position is the basis on which we will also overcome the current challenges in the market environment and continue to invest consistently in the development of new automotive technologies of the future."

Further information can be found in the press release from Moody's.
 
2021
 
 
 
Article-Download
 
07/14/2021
Contact
Dr. Markus Richter
Company Spokesman
Rixbecker Str. 75
59552 Lippstadt, Germany
Tel.: +49 2941 38-7545
Fax: +49 2941 38-477545
Markus.aklk@dbjyRichter@hella.com
 
06/29/2021