CEVA Logistics AG: S&P upgrades CEVA Logistics to BB- with positive outlook

25.05.2018 / 17:32

Baar, Switzerland, 25th May 2018 -- CEVA Logistics AG ("CEVA") announces
that S&P Global Ratings ("S&P") has today upgraded the Group's long-term
issuer rating to BB- with positive outlook. The upgrade by three notches is
based on the deleveraging as a result of the IPO on SIX Swiss Exchange as
well as the improvements in operating results.

This follows an upgrade of CEVA's corporate rating by four notches to B1 by
Moody's Investors Service ("Moody's") last week.

As previously announced, CEVA has repaid indebtedness with the proceeds from
the IPO and plans to replace the majority of its remaining debt facilities
through a comprehensive refinancing in due course.

Commenting on the rating upgrades, CEVA's CFO Peter Waller said: "We are
very pleased about the outcome of the rating upgrades by S&P and Moody's.
They not only reflect CEVA's much stronger financial position following the
IPO but also the progress we have made in transforming the company. We are
committed to continue to grow EBITDA and cash flows and further deleverage
which should support an even better credit rating in the future."

-ENDS-

For more information, please contact:

Investors:
Pierre Benaich
SVP Investor Relations
[e-mail]
[phone]

Media:
David Urbach
SVP Corporate Development
[e-mail]
[phone]

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.

SAFE HARBOR STATEMENT:
This news release may contain forward-looking statements. These statements
include, but are not limited to, discussions regarding industry outlook, the
Company's expectations regarding the performance of its business or joint
ventures, its liquidity and capital resources, its guidance for 2018 and
beyond, and the other non-historical statements. These statements can be
identified by the use of words such as "believes" "anticipates," "expects,"
"intends," "plans," "continues," "estimates," "predicts," "projects,"
"forecasts," and similar expressions. All forward-looking statements are
based on management's current expectations and beliefs only as of the date
of this press release and, in addition to the assumptions specifically
mentioned in the above paragraphs, there are a number of factors that could
cause actual results and developments to differ materially from those
expressed or implied by these forward-looking statements, including the
effect of local and national economic, credit and capital market conditions,
a downturn in the industries in which we operate (including the automotive
industry and the Air freight business), risks associated with the Company's
global operations, fluctuations and increases in fuel prices, the Company's
substantial indebtedness, restrictions contained in its debt agreements and
risks that it will be unable to compete effectively. Further information
concerning the Company and its business, including factors that potentially
could materially affect the Company's financial results, is contained in the
Company's annual and quarterly reports, available on the Company's website,
which investors are strongly encouraged to review. Should one or more of
these risks or uncertainties materialize or the consequences of such a
development worsen, or should underlying assumptions prove incorrect, actual
outcomes may vary materially from those forecasted or expected. CEVA
disclaims any intention or obligation to update publicly or revise such
statements, whether as a result of new information, future events or
otherwise.


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Issuer: CEVA Logistics AG
Key word(s): Services

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