Skip to main content

9 February 2001

Smiths Group plc has been assigned a long-term issuer rating of A3 by Moodys Investor Service, the agency confirming that the outlook for the rating is stable, following completion of the merger between Smiths and TI Group. The Moodys assessment follows a similar announcement by Standard & Poors, 30 January, affirming a single A minus rating for Smiths.

Moodys rating reflects an assessment of Smiths leading positions in several niche markets. The agency notes the good track record of the merged entities for sound margins and strong free cash-flow generation, as well as managements commitment to maintain a prudent financial profile. The rating and its stable outlook also anticipate a timely disposal of the automotive division, as committed by management.

In the same announcement, Moodys confirmed the long-term A3 rating for approximately EUR 543 million of bonds issued by TI Group which, prior to the merger, had been under review for possible downgrade.

Alan Thomson, Financial Director of Smiths Group commented: We have now been given a very good rating by both of the leading agencies because we have a clear focus on the financial parameters which provide stability and a strong platform for growth.

ENDS

General media enquiries

Contact our global media and communications team at:

Tom Steiner

Tom Steiner

Head of External Communications

+44 (0) 20 7004 1600

Email Arrow right icon

Please note – the press team can only answer enquiries from accredited members of the press.

Related articles

Roland At MTC Signing

Smiths Group becomes member of the Manufacturing Technology Centre

Read our latest company news as Smiths Group becomes a member of the Manufacturing Technology Centre

Find out more Call to action arrow icon
Blue Box V2

John Crane launches next-generation Coaxial Seal

Find out more Call to action arrow icon
Smiths Group Foundation Logo On Orange Background

Smiths Group Foundation launches second round of charitable donations

Read our latest company news as the Smiths Group Foundation launches a second round of charitable donations

Find out more Call to action arrow icon
Sign up for updates Call to action arrow icon