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Vienna, 14 November 2007 – The international ratings agency Standard & Poor`s (S&P) raised the corporate credit rating of STRABAG SE, the largest construction company in Central and Eastern Europe, to BBB- from BB+. The outlook is stable. Therewith STRABAG SE`s rating advances to “investment grade”.
The raise was caused by STRABAG SE`s continuous good operating performance, which has not been diluted by its rapid business growth. Furthermore, S&P took into account the ambitious growth plans, in particular in Russia, as well as the expected higher transparency following the Initial Public Offering (IPO) in October. According to S&P, STRABAG SE should benefit from its leading market position in Central and Eastern Europe, its vertically integrated operations, the good geographic diversification and a strong order backlog.
STRABAG SE`s CEO, Hans Peter Haselsteiner, feels happy about the raised rating: “The improved S&P rating to BBB- is the consequence of our IPO and of STRABAG SE`s effort to show the best possible transparency opposite our shareholders. I am especially delighted that STRABAB SE now has its deserved `investment grade´ rating.”
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STRABAG SE is one of Europe’s leading construction groups. With nearly 60,000 employees, STRABAG expects to post revenue of around EUR 11 billion in the ongoing financial year. From its core markets of Austria and Germany, STRABAG is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and the Arabian Peninsula, as well as in Canada, Chile and India. STRABAG’s activities span the entire construction industry (Building Construction and Civil Engineering, Road Construction, Tunnelling) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com.
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