EQS Group-Ad-hoc: CEVA Logistics AG / Key word(s): Rating
CEVA Logistics AG: CEVA Logistics' credit rating upgraded by Moody's by four
notches to B1
17-May-2018 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
*CEVA Logistics' credit rating upgraded by Moody's by four notches to B1*
Baar, Switzerland, 16 May 2018 -- CEVA Logistics AG ("CEVA") announces that
Moody's Investors Service ("Moody's") has today upgraded the Group's
Corporate Family Rating to B1 following the successful IPO on SIX Swiss
Exchange on 4 May 2018. The upgrade by four notches reflects the improved
financial position and free cash flow generation as a result of the IPO as
well as the ongoing improvements in operating performance. Moody's has also
upgraded the instrument ratings on the existing debt facilities.
As previously announced, CEVA has started the repayment of some of its
indebtedness and plans to replace the majority of its remaining debt
facilities through a comprehensive refinancing in coming months.
*-ENDS-*
*For more information, please contact:*
*Investors:*
Pierre Benaich
SVP Investor Relations
pierre.benaich@cevalogistics.com
+41 41 547 0048
*Media:*
David Urbach
SVP Corporate Development
david.urbach@cevalogistics.com
+41 799 333 083
*CEVA - Making business flow*
CEVA Logistics, a leading global asset-light supply chain management
company, designs and implements industry leading solutions for large and
medium-size national and multinational companies. Approximately 56,000
employees in more than 160 countries are dedicated to delivering effective
and robust supply-chain solutions across a variety of sectors where CEVA
applies its operational expertise to provide best-in-class services across
its integrated network. For more information, please visit
www.cevalogistics.com [1].
End of ad hoc announcement
686931 17-May-2018 CET/CEST
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=7003b4a5222aa3f86bea6b061249e50c&application_id=686931&site_id=vwd&application_name=news
(END) Dow Jones Newswires
May 17, 2018 01:00 ET (05:00 GMT)
