DGAP-News: GRENKE AG: S&P affirms BBB+/Negative/A-2 rating for GRENKE AG

S&P affirms BBB+/Negative/A-2 rating for GRENKE AG

Baden-Baden, August 2, 2022: GRENKE AG, global financing partner for small and medium-sized enterprises, reports the latest rating action by Standard & Poor's. S&P Global Ratings affirmed GRENKE AG's "BBB+/Negative/A-2" long- and short-term issuer credit ratings.

The latest S&P rating reflects the base-case expectation that GRENKE AG will continue to demonstrate solid performance and resilience in difficult markets. S&P expects that GRENKE will return to growth after profitability and capitalization remain robust. Further, S&P expects that GRENKE will remediate the remaining weaknesses in transparency, risk governance, and oversight, including money-laundering prevention over 2022.

Please find the latest S&P report here: https://www.grenke.com/investor-relations/debt-capital

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About GRENKE

The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE's products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE's activities.

Founded in 1978 in Baden-Baden, the Group operates in 33 countries and employs more than 1,800 staff (full-time equivalents) worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).