Moody’s views Fresenius negatively

Moody’s Investors Service said it changed its outlook for Fresenius Medical Care Holdings, Inc. to negative from stable and affirmed its Baa3 issuer rating.

“Today's rating action reflects the company's stand-alone credit profile, as well as the fact that FMCH is a significant subsidiary of Fresenius Medical Care AG & Co. KGaA (FMC, Baa3 negative) because this entity owns and consolidates all the U.S .operating subsidiaries of the parent. FMCH contributed around 70% of the parent company's revenue and around 76% of its Moody's adjusted EBITDA in 2021,” Moody’s said in a press release.

“FMCH's negative outlook reflects Moody's expectation that the subholding will remain an integral part of FMC and that its operating performance and credit metrics will not materially deviate from the ones of its parent company,” the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.