Fresenius Medical Care AG & Co. KGaA ("the Company"), the world s largest provider of Dialysis Products and Services, today reports that Standard & Poor s has assigned upgraded debt and recovery ratings to the Company s unsecured debt issues. Based on a recovery analysis the rating of Trust Preferred Securities IV ($225 million) and Trust Preferred Securities V (€300 million) improved to BB from single B+. Additionally the rating of the $500 million Senior Notes due 2017 improved to BB+ from BB-. The corporate credit rating remains unchanged at BB, the outlook is stable.
Lawrence A. Rosen, Chief Financial Officer, commented: "The Company welcomes the improved ratings which reflect our strong global position in growing, non-cyclical markets of the dialysis industry. The dialysis industry is characterized by stable cash flows; most of the Company s customers have a high credit rating. Furthermore, we have a proven ability to reduce debt significantly over time. Our financial position is strong and we are confident to meet our financial targets."
Lawrence A. Rosen, Chief Financial Officer, commented: "The Company welcomes the improved ratings which reflect our strong global position in growing, non-cyclical markets of the dialysis industry. The dialysis industry is characterized by stable cash flows; most of the Company s customers have a high credit rating. Furthermore, we have a proven ability to reduce debt significantly over time. Our financial position is strong and we are confident to meet our financial targets."
