SWISS STEEL HOLDING AG Emmenbrücke, 30 October 2014 - Today, Standard & Poor's (S&P) upgraded the rating for SCHMOLZ + BICKENBACH AG, a global market leader in special steel (such as tool steel, stainless steel, and engineering steel) listed on the SIX Swiss Exchange (SIX: STLN). This is already the second rating upgrade following the successful capital increase in October 2013. After the previous rating of B the upgrade by one full notch is an acknowledgement of the new course of SCHMOLZ + BICKENBACH. The outlook is stable.
Standard & Poor's justifies its rating upgrade with the improved profitability of the Company and the effective implementation of its extensive performance improvement programme. Furthermore the analysts now expect a lower and further decreasing leverage ratio for 2014 and 2015 when compared to their former assessment. The liquidity situation had improved significantly. Hans-Jürgen Wiecha, CFO: "I am particularly pleased that our course has been acknowledged by Standard & Poor's. The upgraded rating is another incentive not to abate our efforts."
For further information please contact:
Stefanie Steiner, Director Corporate Communications and Investor Relations, phone +41 41 209 50 42
SCHMOLZ+BICKENBACH AG, P.O.Box, CH-6021 Emmenbrücke, phone +41 (0)41 209 50 00, www.schmolz-bickenbach.com
Today, the SCHMOLZ + BICKENBACH Group is one of the world's leading providers of customised solutions in the specialty steel long products business. A global name in tool steel and stainless long steel, the Group is one of two largest companies in Europe for alloy and high-alloy engineering steel. With around 10 000 employees at its own production and distribution companies in over 35 countries across five continents, the Company supports and supplies customers wherever they operate. Besides the comprehensive Production and Sales
& Services portfolio, customers benefit from the Company's technological expertise, consistent high quality worldwide and in-depth knowledge of local markets..
Information in this release may contain forward-looking statements, including presentations of developments, plans, intentions, assumptions, expectations, beliefs and potential impacts as well as descriptions of future events, income, results, situations or outlook. They are based on the Company's current expectations, beliefs and assumptions, which are subject to uncertainty and may differ materially from the current facts, situation, impact or developments.
Disclaimer
This publication constitutes neither a prospectus within the meaning of article 652a and/or 1156 of the Swiss Code of Obligations nor a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. This publication constitutes neither an offer to sell nor a solicitation to buy securities of SCHMOLZ + BICKENBACH. The securities have already been sold.
This document shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. persons (as such term is defined in Regulation S under the Securities Act) absent registration or an exemption from registration under the Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.
SCHMOLZ+BICKENBACH AG, P.O.Box, CH-6021 Emmenbrücke, phone +41 (0)41 209 50 00, www.schmolz-bickenbach.com
|
distributed by
|
