Rating

Rating agencies assess the creditworthiness of issuers and assign credit ratings based on the outcome of their assessment. The rating agencies talk to the companies they rate regularly to obtain information on their strategy and business planning. This information, together with the agencies’ own quantitative analyses, forms the basis for their credit ratings. The ratings published by independent rating agencies help lenders assess the risk inherent in financial instruments. Ratings from internationally recognised agencies are supportive for companies seeking to raise funds in the capital markets by issuing bonds, commercial paper or other debt instruments.

The rating agencies have assigned the following ratings:

Rating agencyLong-term ratingShort-term ratingOutlook
S&P Global RatingsBBBA2stable
Moody'sBaa1P2negative
Fitch RatingsBBB+F2stable

In the long term, Bayer is committed to a rating in the “A” rating category.
The rating explicitly reflects an assessment of the potential risk that a company will not be able to meet the payment obligations relating to debt instruments it has issued (interest and repayment of the principal). The lower the risk is considered, the better is the rating. Since lenders expect to receive higher interest payments in return for exposure to higher risks, a company with a very good credit rating can raise debt capital on more favorable terms than one with a lower rating everything else being equal. Each rating comes with an outlook, indicating to investors the direction in which the agency believes the rating might move in the future.

The analysts responsible for Bayer’s credit rating are:

S&P Global RatingsNicolas Baudouin
Tel +33-1442-06672
E-Mail: nicolas.baudouin@spglobal.com
Moody'sMoritz Melsbach
Tel +49-69-70730-784
E-Mail: moritz.melsbach@moodys.com
FitchXavier Taulé Flores
Tel +34-93492-9513
E-Mail: xavier.tauleflores@fitchratings.com

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