S&P upgrades Gerresheimer

Standard & Poor's said it raised its long-term corporate credit ratings on Gerresheimer AG and its fully owned subsidiary, Gerresheimer Holdings GmbH, to BB+ from BB. Also upgraded to BB+ from BB was the senior unsecured debt rating on the €126 million bond issued by Gerresheimer Holdings.

The outlook is stable.

The agency said the upgrade reflects Gerresheimer's continued favorable operating trend, supported by steady revenue and EBITDA growth, sustained solid operating margins and S&P's view that the company will be able to maintain its profitable growth in the near to medium term. Furthermore, the agency said it expects that potential further debt-financed acquisitions would not result in credit measures falling below its requirements for the rating.

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