Three rating agencies upgrade LANXESS
- Standard & Poor’s, Scope Ratings and Moody’s lift rating by one notch each
- Recognition of strengthened business profile and improved financial situation
Within a few days, the three rating agencies Standard & Poor’s (S&P Global), Scope Ratings and Moody’s have upgraded the credit rating of specialty chemicals company LANXESS by one notch each.
They are now publishing new reports after LANXESS announced its plan to sell its stake in ARLANXEO. In these reports, the agencies especially highlight the company’s strengthened business profile, reduced volatility and improved financial situation.
“With their upgrades, the rating agencies are recognizing our transformation into a more profitable, more stable and more widely diversified specialty chemicals company,” said LANXESS CFO Michael Pontzen.
The European rating agency Scope Ratings raised its rating for LANXESS from “BBB” to “BBB+” today (Wednesday, August 15) – with a stable outlook. Last Thursday (August 9), S&P Global had already upgraded the specialty chemicals company’s credit rating by one notch from “BBB-” to “BBB.” The outlook likewise remains stable. On Friday (August 10), Moody’s followed suit and now rates LANXESS at “Baa2.” Previously, its rating was “Baa3.” Moody’s also gives a stable outlook.