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