TEXT-Fitch ups Continental to 'BB-'; stable outlook

Newswire

(The following statement was released by the ratings agency) June 22 - Fitch Ratings has upgraded Continental AG's (Continental) Long-term Issuer Default Rating (IDR) to 'BB-' from 'B+' and affirmed the Short-term IDR at 'B'. The Outlook is Stable. Fitch has also affirmed the rating of the senior secured notes issued by Conti-Gummi Finance BV at 'BB-'. The upgrade reflects Continental's successful refinancing of its syndicated senior debt, completed at the end of March 2011, together ...

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