Germany-Based Fresenius' Senior Unsecured Note Offering Rated 'BB+'

LONDON (Standard&Poor's) Sept. 21, 2015--Standard&Poor's Ratings Services today assigned its 'BB+' issue rating to Germany-based Fresenius SE&Co. KGaA's (FSE) senior unsecured note offering of $300 million. The rating is one notch below the existing corporate credit rating on the company of 'BBB-', reflecting that sizable priority liabilities rank ahead in a hypothetical default scenario. Our corporate credit rating on FSE continues to reflect its global, market-leading position as a provider of products and services for patients with chronic kidney failure and no alternative treatment options. The group's presence in less-regulated and emerging markets is increasing and further supported by its medical nutrition and hospital divisions, Kabi and Helios, which have reached a substantial size

...LONDON (Standard & Poor's) Sept. 21, 2015--Standard & Poor's Ratings Services today assigned its '##+' issue rating to Germany-based Fresenius SE & Co. KGaA's (FSE) senior unsecured note offering of $300 million. The rating is one notch below the existing corporate credit rating on the company of '###-', reflecting that sizable priority liabilities rank ahead in a hypothetical default scenario. Our corporate credit rating on FSE continues to reflect its global, market-leading position as a provider of products and services for patients with chronic kidney failure and no alternative treatment options. The group's presence in less-regulated and emerging markets is increasing and further supported by its medical nutrition and hospital divisions, Kabi and Helios, which have reached a substantial size due to a combination of external and internal growth over recent years. We expect the group to generate strong free operating cash flow of about 1 billion on average per year and for its leverage...

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