S&P rates Duerr, bond

Standard & Poor's said it assigned its BB- corporate credit rating to Duerr AG and a B debt rating to the group's proposed subordinated €200 million bond.

The outlook is stable.

"The ratings reflect Duerr's currently very weak profitability and challenging position as a supplier to original equipment manufacturers," said S&P credit analyst Nicolas Baudouin. "The ratings are nevertheless supported by Duerr's leading global positions, strong customer relationships and widely recognized know-how in its core markets."

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