Daimler Truck receives solid investment grade ratings ahead of listing

First time investment grade ratings for Daimler Truck published by Moody’s and S&P Global Ratings. S&P Global Ratings assigns first time credit rating of BBB + with stable outlook. Moody’s assigns first time credit rating of A3 with a stable outlook. Credit ratings reflect confidence in Daimler Truck’s substantial scale, strong market positions in profitable markets and its sound and conservative financial policy. Capital Market Day scheduled for Nov 11th; Initial Listing on Frankfurt Stock exchange in Dec 2021

Stuttgart – On its way to the expected listing on the Frankfurt Stock Exchange by the end of this year, Daimler Truck had approached S&P Global Ratings (S&P) and Moody’s Investor Service (Moody’s) for setting up first time credit ratings. Both rating agencies now communicated solid investment grade ratings for Daimler Truck. S&P Global Ratings assigned a long-term issuer credit rating of BBB + (outlook stable) while Moody’s assigned a long-term issuer credit rating of A3 (outlook stable).

Jochen Goetz, Chief Financial Officer of Daimler Truck AG: “These ratings are a confirmation, that Daimler Truck is ready for independence – guided by a clear strategy and with a strong financial profile. This will support our growth in the financial services segment and our ambition to achieve higher margins.”

S&P’s BBB + / A-2 preliminary long-and short term issuer rating reflects the agency’s assessment of Daimler Truck having strong market positions in the most profitable markets, U.S. and Europe. In addition S&P positively noted that Daimler Truck has developed an ambitious profitability roadmap to improve the resilience of its operating performance during industry downturns and is prepared for the energy transition towards zero-emission vehicles. The final rating will depend on the receipt and satisfactory review of the final transaction documentation.

Moody’s A3 long-term and a Prim-2 short term issuer rating of Daimler Truck reflects the group’s substantial scale as the world’s largest manufacturer of commercial vehicles by revenues; its good diversification with seven individual brands, and leading positions in the US and European markets. Moody’s also mentioned Daimler Truck’s potential to grow margins via efficiency measures, the companies conservative financial policy and a strong liquidity profile.

Martin Daum, CEO of Daimler Truck and his Board of Management team will present the future direction and strategic goals of the new company on a Capital Market Day, November 11th starting at 02.00 p.m. CET. Initial Listing on Frankfurt Stock Exchange is expected to be in December 2021.

Link to the digital Capital Market Day: Daimler Truck Capital Market Day 2021 | Daimler