S&P assigns BBB- to Voith

S&P said it assigned a BBB- long-term corporate credit rating to Voith GmbH & Co. KGaA.

The outlook is stable.

The agency said the group's profitability has improved after restructuring its paper division, and its operating performance is expected to strengthen further on the back of increasing order intake.

Additionally, Voith's divestment of its holding in KUKA last year significantly improved the group's key credit metrics and strengthened its liquidity, the agency explained.

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