Borealis obtains strong investment grade rating from S&P Global Ratings
VIENNA, 12-Nov-2018 — /EuropaWire/ — Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces that it was issued a BBB+ rating with stable outlook by S&P Global Ratings on 9 November 2018. It is the first public rating for the company, which has been successfully active in various financing markets over the last ten years and has built up a robust and diversified funding portfolio.
“We consider the assigned strong investment grade rating as a recognition for the excellent work done over the last years to make Borealis one of the strongest players in our industry,” says Borealis Chief Executive Alfred Stern.
“With the rating, Borealis will further expand its financing strategy and give our bank partners and investors further comfort in the excellent credit metrics of the company. Now is the right time to take this important step,” concludes Borealis CFO Mark Tonkens.
For further information please contact:
Director Treasury & Funding
tel.: +43 1 22 400 320 (Vienna, Austria)
Group Funding Manager
tel.: +43 1 22 400 707 (Vienna, Austria)
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With its head office in Vienna, Austria, the company currently has around 6,600 employees and operates in over 120 countries. Borealis generated EUR 7.5 billion in sales revenue and a net profit of EUR 1,095 million in 2017. Mubadala, through its holding company, owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
SOURCE: Borealis AG