Moody’s revises Wienerberger to positive

Moody's Investors Service said it affirmed the corporate family rating and probability of default rating of Wienerberger AG at Ba2 and Ba1-PD respectively.

Concurrently the agency affirmed the Ba1 ratings assigned to the €100 million and €300 million senior unsecured bonds and the Ba3 ratings assigned to the junior subordinated hybrid bonds.

The outlook was changed to positive from stable.

“The change in the outlook to positive from stable reflects the continued swift deleveraging path of Wienerberger since we last upgraded the company in February 2016 and our expectation that the company will continue to experience benign market conditions supportive of further deleveraging over the next 12 months at least," Moody’s vice president, senior credit officer Stanislas Duquesnoy said in a news release.

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