Fixed Income & Ratings

Ratings

Ratings evaluate the ability of a company to meet its financial obligations. They communicate the creditworthiness of a company to potential debt capital investors and enable it to obtain attractive financing conditions on international capital markets. CECONOMY AG is continuously evaluated by two rating agencies, Moody’s and Scope. With its conservative financing strategy, CECONOMY AG pursues the objective of permanent status as an investment grade company.

The current ratings of CECONOMY AG:

Moody's Credit Opinion: PDF 1,17 MB
Scope Rating Action: PDF 102 KB

As of 19 February 2021


Financing programs

Issues on the debt capital markets serve the medium- and long-term financing of CECONOMY AG. Thus, multiple promissory notes (Schuldscheindarlehen) with a total volume of €250 million were successfully issued in March 2017 with terms of five, seven and ten years.

A Euro Commercial Paper Programme with a maximum volume of €500 million is available to CECONOMY AG for short-term funding needs.

Download ECP Programme Information Memorandum

Liquidity reserve

CECONOMY AG possesses comfortable liquidity reserves consisting of various syndicated revolving credit facilities, which complement the reserves held in cash and other liquid assets. In order to strengthen its liquidity reserves, CECONOMY AG has increased the letter one by €1.7 billion to a new overall volume of €2.7 billion. The additional volume is provided by the state-owned bank KfW (Kreditanstalt für Wiederaufbau) and a consortium of CECONOMY’s partner banks as part of the government’s COVID-19 programme in order to safeguarded access to substantial back-up lines for potentially longer lock-downs and a possible second wave in view of the worldwide spread of the COVID-19 pandemic.

Overview of syndicated revolving credit facilities

Contact
Simon Printz, CFA

Head of Group Financing
+49 211 5408-7243
simon.printz_at_ceconomy.de

send E-Mail
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