DUSSELDORF, Germany, March 17 The rating agencyMoody's has raised the rating for the Gerresheimer Group from Ba3 to Ba2 with"Outlook stable".
As a result, the Group's financial standing in the market and itsrefinancing possibilities are substantially enhanced. Moody's justifies thisstep by reference to the considerably strengthened business profile as aresult of successful acquisitions and in view of the Group's increasedprofitability and cash flow strength. In the detailed justification, Moody'semphasises the company's leading market position and its stable customerrelationships in the pharmaceutical and cosmetics industries.
"We are very pleased about the better rating by Moody's. It confirms oursuccessful business development and solid financial structure. On this basiswe will again grow profitably in 2008," says Dr. Axel Herberg, CEO ofGerresheimer AG.
Gerresheimer employs more than 10,800 people in 41 locations in Europe,America and Asia. In the financial year 2007, worldwide sales totalledEUR957.7m. The product portfolio ranges from pharmaceutical vials made ofglass and plastic through to complex drug-delivery systems for the pharma &life science industry. These include sterile syringes, inhalers and othersystem-based approaches for safe dosage and application of medications. TheGroup enjoys a leading position in markets which are characterized by hightechnical and regulatory barriers.Contact Press Burkhard Lingenberg Director Corporate PR & Marketing Telephone: +49-211-6181-250 Telefax: +49-211-6181-241 e-mail: email@example.com e-mail Contact Investor Relations Anke Linnartz Director Corporate Investor Relations Telephone: +49-211-6181-314 Telefax: +49-211-6181-121 e-mail: firstname.lastname@example.org
SOURCE Gerresheimer AG