Following the opening of a new R&D centre and a slew of acquisitions around the globe, rating agency Standard & Poor’s has raised the creditworthiness rating for Knorr-Bremse from A- to A.
According to the German braking technology specialist, the assessment went from A-/ Outlook positive to A/ Outlook stable. Only last year, Standard & Poor’s upped its rating for Knorr-Bremse from A-/ Outlook stable to A-/ Outlook positive.
“With this upgrade, the rating agency is honouring the continuity of the Group’s performance, the strengthening of its competitive position – not least through investments in research and development – and the substantial growth of the Group through acquisitions and joint ventures,” commented Dr Lorenz Zwingmann, CFO at Knorr-Bremse (pictured).
“This decision only goes to reaffirm our conviction that, alongside technical and operational excellence, it invariably takes a stable financial basis to ensure sustained success in the various markets.”
The targeted expansion of Knorr-Bremse’s presence on the ground, with companies in all important countries and markets, was highlighted as one of the Group’s core strengths, as was the balanced spread of sales revenues between the rail vehicle and commercial vehicle businesses.