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![Scope affirms BBB-/Stable/S-2 issuer rating of Haniel](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_a58473c152726f147f716c06ca6a7a4653d80179fbabb00c01fbd4c49f72c2bf.jpg)
30/4/2020 Rating announcement EN
Scope affirms BBB-/Stable/S-2 issuer rating of Haniel
The affirmation reflects Haniel’s solid financial profile, backed by a low loan-to-value that provides good headroom for bridging the lower income from portfolio companies and the expected temporary shortfall in total cost coverage to below 1.0x in 2020.
![Scope affirms BBB-/Stable/S-2 issuer rating of Haniel](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_30761a09732ebc27bd8ede5c3245688ce1c0a5479a8f7de5ab184b42f9ebb046.jpg)
30/4/2019 Rating announcement EN
Scope affirms BBB-/Stable/S-2 issuer rating of Haniel
The affirmation reflects the intrinsic portfolio risks, the increased financial headroom and robust total cost coverage. The ratings are constrained by uncertainty around the future of METRO as a portfolio company and its impact on total cost coverage.
![Scope Ratings affirms its issuer rating of BBB-/Stable on Germany-based Franz Haniel & Cie. GmbH](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_0d26d887f9ac7be0467b7c6b410281a01a2564342039fd16d5d988c925a96556.jpg)
27/6/2018 Rating announcement EN
Scope Ratings affirms its issuer rating of BBB-/Stable on Germany-based Franz Haniel & Cie. GmbH
The rating affirmation reflects Scope’s continued view on Haniel’s consistent execution of its investment strategy which has resulted in increased portfolio diversification and more robust income streams without burdening the company’s indebtedness.
![Scope assigns BBB- issuer rating to Haniel Finance Deutschland GmbH with Stable Outlook](/.resources/scoperatings/webresources/img/logo_blue.jpg)
24/2/2017 Rating announcement EN
Scope assigns BBB- issuer rating to Haniel Finance Deutschland GmbH with Stable Outlook
The rating for Haniel Finance Deutschland GmbH is derived from the rating of the parent company, Franz Haniel & Cie. GmbH (Haniel), reflecting the unconditional and irrevocable guarantee given to debt holders of its financing subsidiary.
![Scope affirms BBB- rating of Haniel with Stable Outlook and assigns S-2 short-term rating](/.resources/scoperatings/webresources/img/logo_blue.jpg)
21/2/2017 Rating announcement EN
Scope affirms BBB- rating of Haniel with Stable Outlook and assigns S-2 short-term rating
The rating affirmation reflects Scope’s continued view on Haniel’s consequent execution of its investment strategy in conjunction with a total cost coverage of more than 1.0x. The assigned S-2 short-term rating reflects Haniel’s liquidity profile.
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