HORNBACH Baumarkt AG: Hornbach Baumarkt AG upgraded by S&P to 'BB+' from 'BB'
October 18, 2021 at 06:21 am EDT
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DGAP-News: HORNBACH Baumarkt AG
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HORNBACH Baumarkt AG: Hornbach Baumarkt AG upgraded by S&P to 'BB+' from 'BB'
18.10.2021 / 12:19
The issuer is solely responsible for the content of this announcement.
Credit Rating
Hornbach Baumarkt AG upgraded by S&P to 'BB+' from 'BB'
Bornheim bei Landau/Pfalz, October 18, 2021. Hornbach Baumarkt is pleased to announce upgrades by S&P Global Ratings to its long-term issuer credit rating and the rating on its senior unsecured debt to 'BB+' from 'BB'. The outlook remains stable.
In its announcement on October 13, 2021, S&P highlighted that high demand for do-it-yourself (DIY) and construction products during the pandemic boosted the group's earnings and margins, strengthened its competitive position, and supported its credit metrics. Looking forward S&P expects "Hornbach will continue capitalizing on its efficient omnichannel proposition underpinning its market share gains across markets, uphold its prudent financial policy, and continue reducing debt."
Karin Dohm, CFO of Hornbach Baumarkt AG and Hornbach Management AG stated: "We successfully extended our market position by continuously focusing on our customers' needs, thus reaching a sustainably higher earnings level. S&P's decision to upgrade our ratings is highly appreciated and a great recognition of our work so far."
Contact:
Axel Mueller
Group Communications and Investor Relations Director
HORNBACH Holding AG & Co. KGaA
Tel. +49 (0) 6348 602444
axel.mueller@hornbach.com
18.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
HORNBACH Baumarkt AG
Hornbachstraße
76878 Bornheim bei Landau/Pfalz
Germany
Phone:
+49 (0)6348 / 60 00
Fax:
+49 (0)6348 / 60 40 00
E-mail:
info@hornbach.de
Internet:
www.hornbach.de
ISIN:
DE0006084403
WKN:
608440
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
Hornbach Baumarkt AG is a Germany-based operator of Do-it-yourself (DIY) stores and home centers across Europe with focus on Germany. The Company specializes in the sale of products and services within its garden centers, as well as through its online store. It offers products in various categories, such as bath and sanitation, construction materials, wood, windows and doors, flooring and tiles, paint and wallpaper, garden, heating, air conditioning and ventilation, household items, kitchen machines and utensils, lighting and electrical solutions, machinery and tool, as well as various products for pets, including food and toys, among others. The Company's main shareholder is Hornbach Holding AG & Co KGaA.
HORNBACH BAUMARKT AG 
