...+ The Germany-based automotive component and industrial bearings manufacturing group Schaeffler announced that it will use the proceeds of its equity transaction for early redemption of outstanding debt. + We expect credit ratios will further improve in 2016. + We are therefore raising our long-term corporate credit ratings on Schaeffler to '##' and the issue ratings to '##' and 'B+'. + The stable outlook reflects our opinion that the group will maintain credit ratios commensurate with our '##' rating, on the back of strong operating performance in 2016-2017 and mid-single-digit revenue growth in 2016. FRANKFURT (Standard & Poor's) April 28, 2016--Standard & Poor's Ratings Services today raised to '##' from '##-' its long-term corporate credit ratings on Schaeffler AG, Schaeffler Verwaltung Zwei GmbH, and Schaeffler Holding Finance B.V., all members of the Germany-based group Schaeffler, which manufactures automotive components and systems, and industrial bearings. At the same time, we...
