Moody's downgrades thyssenkrupp to B1; outlook developing
Rating Action: Moody's downgrades thyssenkrupp to B1; outlook developing. Global Credit Research- 17 Feb 2020. Frankfurt am Main, February 17, 2020-- Moody's Investors Service, has today downgraded to B1 from Ba3 the corporate family rating and to B1-PD from Ba3-PD the probability of default rating of German steel and diversified industrial company thyssenkrupp AG.ThyssenKrupp is the parent company of the ThyssenKrupp Group. Co. has six business areas: Components Technology, which provides components for the automotive and machinery sectors; Elevator Technology, which supplies passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts; Industrial Solutions, which comprises the System Engineering and Marine Systems units; Materials Services, which focuses on materials distribution and technical services; Steel Europe, which develops, produces and markets flat carbon steel in the European market; and Steel Americas, which produces, processes and markets steel products in North and South America.
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