Rating

Private rating agencies provide credit assessments for companies acting in different industries. This evaluation is based on information from a continuous dialogue between the rating agency and the company and a comprehensive analysis of all available information.

The credit rating of an independent agency supports debt capital investors in the risk assessment of companies and their issued financial instruments.

On October 7, 2015, one day after the initial stock market listing of the Covestro share, Covestro AG received a Baa2 investment-grade rating and a stable outlook by the agency Moody’s Investors Service. The rating assessment of Moody’s acknowledges Covestro’s targeted investment-grade rating. This rating reflects the solid balance sheet structure of the company and creates good preconditions for corporate finance activities.

Covestro targets a capital structure and financial ratios that support an investment-grade rating also in the future.

Issuer RatingOutlookLast Update
         Moody's              Baa2
           Stable                      Jun. 10, 2016

The rating evaluation represents the estimation of potential risks of a company, specifically the risk of it defaulting on its obligations in a debt financing agreement. If a company can meet its obligations towards creditors, the better its credit rating and the lesser the risk of default. In general, a company with a good rating can expect to obtain loans at more favorable conditions, as a loan issuer will increase interest according to the risk of default and the nature of the credit rating.

Responsible rating analyst at Moody's:
Francois Lauras
Phone +44-20-7772-5454
E-mail: Francois.Lauras@moodys.com

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