15.06.2016
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DGAP-News: Corporate rating of KTG Energie AG adjusted to B
KTG Energie AG / Key word(s): Rating
15.06.2016 15:47
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Corporate rating of KTG Energie AG adjusted to B
- Current situation of KTG Energie AG remains unchanged
- Triggered by current development of the holding company
Hamburg, June 15, 2016. Creditreform Rating has adjusted the corporate
rating of KTG Energie AG from BB+ (watch) to B with negative outlook. Sole
reason for the adjustment according to Creditreform are the possible
effects of the current development of the holding company KTG Agrar SE on
the earnings and financing position of KTG Energie AG. Loans are contracted
between the holding and the subgroup with the KTG Energie AG as debtor.
Also, the holding granted guarantees and letters of comfort to subsidiaries
in the subgroup. KTG Agrar SE is currently in delay of interest payment for
the bond 2012/2017 (ISIN DE000A1H3VN9). The corporate rating of KTG Agrar
SE had been suspended. Indeed the current situation of KTG Energie AG
remains unchanged and loans granted by KTG Agrar SE were reduced, but based
on the existing corporate relationships between both companies Creditreform
sees higher risks for the supply with input materials and for the
profitability and financing position of KTG Energie AG in the future. The
rating outlook is negative by reason of the still uncertain development of
KTG Agrar SE. KTG Energie AG regrets this decision by Creditreform,
particularly because all requested information had been provided and the
operative business has developed according to plan during the course of the
first half year.
About KTG Energie AG
KTG Energie AG is committed to an integrated, sustainable business model in
which the production of renewable commodities does not compete with
foodstuff production. With 85 employees at the end of 2015, KTG Energie AG
operated biogas plants with a total capacity of more than 60 MW, which both
feed processed biogas directly into the natural gas grid and use biogas for
power production. From fiscal year 2015/2016, this will result in a secured
sales base of up to EUR90 million and an EBITDA base of up to EUR28
million.
Contact:
Investor Relations / Press
Tobias M. Weitzel
BSK Becker+Schreiner Kommunikation GmbH
Phone: +49 2154-8122 16
E-mail: [email protected]
15.06.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap.de
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Language: English
Company: KTG Energie AG
Ferdinandstr. 12
20095 Hamburg
Germany
Phone: +49 40 76755372
Fax: +49 40 76755374
E-mail: [email protected]
Internet: www.ktg-energie.de
ISIN: DE000A0HNG53, DE000A1ML257,
WKN: A0HNG5, A1ML25
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of Announcement DGAP News-Service
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