FAQ
Has Bertelsmann issued bonds?
In the past, Bertelsmann has repeatedly issued bonds and comparable instruments through the capital markets or through private placements.
What is a credit rating?
A credit rating is a classification of the creditworthiness of a borrower or a special debt instrument. The former is called an issuer rating, and the latter an issuance rating.
What is the credit rating of Bertelsmann AG?
Since June 2002, Bertelsmann has been rated by the rating agencies Standard & Poor's and Moody's. S & P current rating is BBB+/stable/A-2 and Moody's rating is Baa1/stable/P-2 respectively.
What are the financial goals of Bertelsmann?
Bertelsmann utilizes a financial control system employing quantitative financial targets concerning the Group`s economic debt and, to a lesser extent, its capital structure. One key financial target is a dynamic leverage factor calculated as the ratio of economic debt to operating EBITDA (after modifications) and limited to a maximum of 2.5. Economic debt is defined as net financial debt plus provisions for pensions, profit participation capital and present value of operating leases. Bertelsmann lowered the leverage factor from 3.0 to 2.5 at the end of the fiscal year 2010 due to the economic crisis and as part of a general limit deleveraging of corporates.
These self-imposed financial goals reflect the conservative financial policy of the company and also take into account the existence of other financial obligations such as obligations from operating leasing contracts. The combined leverage factor for the fiscal year 2010 was 2.3.
What financial instruments does Bertelsmann use for External Financing?
Bertelsmann uses various financial instruments to diversify its financing sources. Besides the issuance of bonds and comparable instruments through the capital markets or through private placements, Bertelsmann has access to a Syndicated Credit Facility with a volume of EUR 1.2 billion which can be drawn by Bertelsmann AG when needed.
For further questions or suggestions
News
Bertelsmann announces preliminary figures for 2011
Slight growth in revenues and solid operating EBIT
Bertelsmann’s Revenues and Group Profit Up Year-on-Year After Nine Months of 2011
Revenues increase to €10.7 billionOperating EBIT stable at €1.03 billion Group profit rises to €377 millionBertelsmann, the international media group, reports increased revenues and Group profit...
Thomas Rabe Appointed New Chairman & CEO of Bertelsmann AG Effective January 1, 2012 - Hartmut Ostrowski to Move to Supervisory Board
The Supervisory Board of Bertelsmann AG has appointed Thomas Rabe (46), currently Chief Financial Officer of the Group, as its future Chairman & CEO. He will succeed the current Chairman & CEO Hartmut...
