Ad Hoc Releases, 2005-02-10, 01:00 AM
ThyssenKrupp returned to investment grade status by Standard & Poor`s (S&P)
Following the successful closing of the sale of the Residential Real Estate business, Standard & Poor`s today upgraded ThyssenKrupp`s issuer rating by one notch from "BB+" to "BBB-". The issue rating for outstanding ThyssenKrupp bonds was also raised to "BBB-". ThyssenKrupp has thus been returned to investment grade status by S&P. The ratings from Moody`s and Fitch have remained in the investment grade area since they were first issued.
In February 2003, S&P downgraded ThyssenKrupp to non-investment grade status due to a change in the way it assesses pension obligations.
ThyssenKrupp welcomes S&P`s rating action. By upgrading the Company to investment grade status, S&P has recognized its efforts in recent years to improve profitability and reduce debt.
Dr. Jürgen Claassen
Corporate Communications, Strategy, and Executive Affairs
Telephone +49 211 824-36001
Fax +49 211 824-36005