Top Ratings For Deutsche Post World Net: Confirmation Of Group's Excellent Financial Strength05/08/2002, 01:00 AM CEST
In a comparison of DAX companies and international representatives of the industry Deutsche Post World Net occupies a peak position regarding its financial strength. Its status is borne out by the initial ratings issued by international agencies Moody's Investors Service, Standard & Poor's and Fitch Ratings. Moody's long-term rating is Aa3, its short-term rating is P-1. The corresponding ratings by Standard & Poor's and Fitch Ratings are A+/A1 and AA-/F1+ respectively. All three agencies assess the long-term ratings as stable.
As reasons for issuing their excellent ratings, all in the upper investment grade area, Moody's, Standard & Poor's and Fitch Ratings point out Deutsche Post World Net's strengths in the mail business, its international express and logistics offerings and Postbank's leading position in the German retail banking market. Besides low debt levels, state the rating agencies, the Group's sustained stability and strong cash flow give it its excellent financial strength.
Dr. Edgar Ernst, Deutsche Post's Board Member for Finance, sees the ratings as a confirmation of the Group's solid financial structure. The excellent ratings reflect the effective combination of Deutsche Post World Net's financial strength and international growth potential in the eyes of both our creditors and our shareholders."