Lonza Announces Initiation of S&P Credit Rating with Investment Grade of BBB+ and Stable Outlook
Basel, Switzerland, 17 January 2019 – Lonza announced today that Standard & Poor's (S&P) assigned a BBB+ credit rating with stable outlook to Lonza. Lonza considers this investment grade rating a positive outcome of the recent initiation of the rating process, which will support Lonza's financing strategy.
Rodolfo Savitzky, Lonza's Chief Financial Officer, commented: “This credit rating validates Lonza's successful growth strategy, leadership positions in its Pharma & Biotech and Specialty Ingredients segments, and the Group's attractive financial profile. Lonza has been managing its capital structure with the overall aim of maintaining an investment grade credit profile, which S&P has now formally confirmed."
The S&P rating will increase transparency and comparability for debt investors and other capital market participants. Going forward, Lonza is committed to maintaining an investment grade rating.
Lonza has been advised by Bank of America Merrill Lynch during the credit rating process.
The full credit rating report is available on the S&P website.