Standard & Poor's changes Dürr's rating outlook
06/01/2005
Standard and Poor's (S&P) has changed Dürr's credit rating outlook from "stable" to "negative" after taking account of the business climate in Dürr's industrial environment. The rating agency confirmed at the same time that the company's credit rating was unchanged at "B+".
One of the reasons given by the rating agency for the changed outlook is the earnings performance in the first quarter of 2005. In particular, S&P cited an increasingly difficult environment in the automotive industry, where strong competitive pressure is making itself felt.
The issue rating for Dürr's subordinated corporate bond, which was placed in July 2004 for EUR 200 million, held steady at "B -".
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