Euler Hermes confirms SAF-HOLLAND's BBB rating and stable outlook

Euler Hermes confirms SAF-HOLLAND's BBB rating and stable outlook

Luxembourg, April 13, 2017 - Euler Hermes has confirmed the rating of the SDAX-listed supplier for the trailer, truck and bus industries SAF-HOLLAND S.A. The rating agency valued the credit rating of the company unchanged at BBB. This rating is expected to remain stable over the next twelve months.

The rationale behind the rating's confirmation is the positive growth outlook from the rise in global transportation volumes and the SAF-HOLLAND Group's excellent market position in axle and suspension systems in key European markets and its strength in fifth-wheels in North America in particular. Euler Hermes positively assesses the steady improvement made in the Group's earnings and profitability and the fact that the capital structure has reached an "excellent level" in 2016 with only a small financial risk. According to the rating agency, these ratios are likely to continue to improve in the years ahead especially when taking into account the Group's "Strategy 2020", which is geared towards growth in new markets.

Stephan Haas
​Head of Investor Relations, Corporate and ESG Communications
​Tel. +49 (0)6095 301 803

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