WENDEL : WENDEL RETURNS TO INVESTMENT GRADE

Standard and Poor's has upgraded Wendel's long-term credit rating from BB+ to BBB-

Short-term credit rating upgraded from B to A-3

Stable outlook

The Standard and Poor's rating agency announced today that it has upgraded Wendel's long-term credit rating from BB+ to BBB- (stable outlook) and the short-term credit rating from B to A-3.
This is the third consecutive year in which Standard & Poor's has upgraded Wendel's credit rating. Wendel has now returned to investment grade, after a six-year period during which its debt was considered too high.

Frédéric Lemoine, Chairman of Wendel's Executive Board, said,

"It was incumbent upon Wendel to return to investment grade status. For the long-term investor that we are, investment-grade status means financial stability, the ability to take advantage of investment opportunities and the condition necessary for providing industrial and strategic support to the companies in which we invest.

The credit markets had already integrated the reduction in our debt level. This return to investment grade status rewards more than five years of excellent performance, during which our company's debt has been reduced by more than half⁽¹⁾ and our Net Asset Value per share increased more than fivefold⁽²⁾.

Wendel has thus achieved the strategic objective it set for itself more than two years ahead of time, while maintaining its intention to invest €2 billion over the 2013-17 period."

1. from €8.45 billion at the start of 2009 to €3.75 billion as of May 23, 2014
2. from €28 as of 31/12/2008 to €151.8 as of May 23, 2014

Press contacts

Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24
c.angladepirzadeh@wendelgroup.com
Analyst and investor contacts
Olivier Allot: +33 (0)1 42 85 63 73

o.allot@wendelgroup.com:
mailto:o.allot@wendelgroup.com