DGAP-News: HORNBACH Baumarkt AG / Key word(s): Rating HORNBACH Baumarkt AG: Hornbach Baumarkt AG upgraded by S&P to 'BB+' from 'BB' 2021-10-18 / 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

-----------------------------------------------------------------------------------------------------------------------

2021-10-18 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

----------------------------------------------------------------------------------------------------------------------- 


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 
EQS News ID:  1241385 
 
End of News   DGAP News Service 
=------------

1241385 2021-10-18

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1241385&application_name=news

(END) Dow Jones Newswires

October 18, 2021 06:19 ET (10:19 GMT)