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Scholz-Anleihe | Bond | A1MLSS | AT0000A0U9J2 | Börse Frankfurt (Frankfurt Stock Exchange)
Obbligazioni valute high yield Bond Scholz Anleihe 2017 8,50% Euro AT0000A0U9J2
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Scholz-Anleihe | Bond | A1MLSS | AT0000A0U9J2 | Börse Frankfurt (Frankfurt Stock Exchange)
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Ricevo dall ' I.R. e giro
Euler Hermes Rating estimates Scholz Group‘s restructuring prospects positive
<LI class=MsoNormalCxSpMiddle style="MARGIN-BOTTOM: 10pt; TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN-RIGHT: 2cm; mso-add-space: auto; mso-list: l0 level1 lfo1">Rating agency: „Economic feasibility“ of the intended realignment „given“ <LI class=MsoNormalCxSpMiddle style="MARGIN-BOTTOM: 10pt; TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN-RIGHT: 2cm; mso-add-space: auto; mso-list: l0 level1 lfo1">Rating downgrade as announced: reduction from „BB-/stable“ to „B uncertain“ Recycling group for ferrous and non-ferrous scrap metal in positive talks with financing parties
The rating agency Euler Hermes positively comments on the restructuring prospects of recycling group for ferrous and non-ferrous scrap metal Scholz AG within the most recent report. The report, which has been published today, states that the restructuring concept which has been developed together with a renowned consulting firm shows a “conclusive and sustainably positive development perspective for Scholz AG”. Due to the “given economic feasibility”, Euler Hermes Rating assumes that “the financing partners will in principal support the proposed measures”.
Despite of the generally positive assessment of the ongoing restructuring, Euler Hermes – as announced in the press release dated 2nd of August - has downgraded the rating of Scholz AG from „BB-“ with stable outlook to „B“ with uncertain outlook. Reasons for the downgrade are the expected write-offs and liquidity needs in connection with the decision to stop the business relationship with the Australian corporation CMA. As announced on 2nd of August, Scholz AG will reduce the trading activities in the Asian/Australian area significantly. The rating outlook has been stated “uncertain” as the agreement with the financing parties is still pending.
The restructuring concept for Scholz Group is primarily focusing on the core business activities of ferrous and non-ferrous scrap metal recycling (Fe-/NE-Recycling) as well as on the value optimised divestments of non-core activities (such as aluminum production and the steel trading division). Associated with this are withdrawals from countries in which the business prospects are not promising enough as well as the consistent restructuring of loss making units in core regions.
On the financing side, the company currently is in constructive talks with its financing parties regarding the assistance of the restructuring. All measures target at a sustainably improving profitability and financial capacity of the group by focusing on the core business activities and the core regions, the reduction of costs and complexity as well as a lowering of financial expenses as a result of a significant debt reduction.
Scholz AG will report more details of the restructuring concept in due course. Currently, the main target is to reach an agreement with the financing parties.
Information about Scholz AG
Scholz Group is a market leader and major supplier of the steel and metal industries in central, eastern and southern Europe. Scholz Group carries out the trade and preparation of ferrous and non-ferrous metals such as copper and aluminum and offers associated services. The company employs over 7,200 employees in over 20 countries and in 2012 generated turnover of approximately €4.7 million and an output of approximately 9.9 million tons of recycled product.
Contact:
Scholz Press Office
Heidrun Melchinger
Tel: +49 7365 84 0 begin_of_the_skype_highlighting
+49 7365 84 0 GRATIS end_of_the_skype_highlighting
E-Mail: [email protected]
Euler Hermes Rating estimates Scholz Group‘s restructuring prospects positive
<LI class=MsoNormalCxSpMiddle style="MARGIN-BOTTOM: 10pt; TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN-RIGHT: 2cm; mso-add-space: auto; mso-list: l0 level1 lfo1">Rating agency: „Economic feasibility“ of the intended realignment „given“ <LI class=MsoNormalCxSpMiddle style="MARGIN-BOTTOM: 10pt; TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN-RIGHT: 2cm; mso-add-space: auto; mso-list: l0 level1 lfo1">Rating downgrade as announced: reduction from „BB-/stable“ to „B uncertain“ Recycling group for ferrous and non-ferrous scrap metal in positive talks with financing parties
The rating agency Euler Hermes positively comments on the restructuring prospects of recycling group for ferrous and non-ferrous scrap metal Scholz AG within the most recent report. The report, which has been published today, states that the restructuring concept which has been developed together with a renowned consulting firm shows a “conclusive and sustainably positive development perspective for Scholz AG”. Due to the “given economic feasibility”, Euler Hermes Rating assumes that “the financing partners will in principal support the proposed measures”.
Despite of the generally positive assessment of the ongoing restructuring, Euler Hermes – as announced in the press release dated 2nd of August - has downgraded the rating of Scholz AG from „BB-“ with stable outlook to „B“ with uncertain outlook. Reasons for the downgrade are the expected write-offs and liquidity needs in connection with the decision to stop the business relationship with the Australian corporation CMA. As announced on 2nd of August, Scholz AG will reduce the trading activities in the Asian/Australian area significantly. The rating outlook has been stated “uncertain” as the agreement with the financing parties is still pending.
The restructuring concept for Scholz Group is primarily focusing on the core business activities of ferrous and non-ferrous scrap metal recycling (Fe-/NE-Recycling) as well as on the value optimised divestments of non-core activities (such as aluminum production and the steel trading division). Associated with this are withdrawals from countries in which the business prospects are not promising enough as well as the consistent restructuring of loss making units in core regions.
On the financing side, the company currently is in constructive talks with its financing parties regarding the assistance of the restructuring. All measures target at a sustainably improving profitability and financial capacity of the group by focusing on the core business activities and the core regions, the reduction of costs and complexity as well as a lowering of financial expenses as a result of a significant debt reduction.
Scholz AG will report more details of the restructuring concept in due course. Currently, the main target is to reach an agreement with the financing parties.
Information about Scholz AG
Scholz Group is a market leader and major supplier of the steel and metal industries in central, eastern and southern Europe. Scholz Group carries out the trade and preparation of ferrous and non-ferrous metals such as copper and aluminum and offers associated services. The company employs over 7,200 employees in over 20 countries and in 2012 generated turnover of approximately €4.7 million and an output of approximately 9.9 million tons of recycled product.
Contact:
Scholz Press Office
Heidrun Melchinger
Tel: +49 7365 84 0 begin_of_the_skype_highlighting
E-Mail: [email protected]
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fabriziof
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