With an expected listing on the Frankfurt Stock Exchange by the end of this year, Daimler Truck had approached S&P Global Ratings (S&P) and Moody’s Investor Service (Moody’s) for setting up first time credit ratings. (Shareholders Vote to Spin-off of Daimler Truck, Rename Daimler AG to Mercedes-Benz Group)
Both rating agencies just issued investment grade ratings for Daimler Truck. S&P Global Ratings assigned a long-term issuer credit rating of BBB + (outlook stable) while Moody’s assigned a long-term issuer credit rating of A3 (outlook stable).
Jochen Goetz, Chief Financial Officer of Daimler Truck AG: “These ratings are a confirmation, that Daimler Truck is ready for independence – guided by a clear strategy and with a strong financial profile. This will support our growth in the financial services segment and our ambition to achieve higher margins.”