Bosch ratings remain unchanged - Fitch

(ADPnews) - Jun 22, 2011 - Fitch Ratings yesterday retained the F1 short-term issuer default rating (IDR) on German industrial equipment and consumer goods giant Robert Bosch GmbH and its short-term debt.

The move factors in the group's significant liquidity maintained during the financial crisis, favourable debt maturity profile and the recovered sales and profitability.

"Bosch's rating may be negatively impacted if EBITDAR margin falls below 11%, adjusted gross leverage increases above 1.5x, on a sustained basis, or there is a material weakening in the group's liquidity profile with sustained negative free cash flow," Fitch said.

On the other hand, the ratings could be influenced positively by continuous strong free cash flow generation, the rater noted.

Rating agency website: www.fitchratings.com

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