Management Report > Report on economic position > Results of operations, financial position, assets and liabilities > Corporate rating

The credit quality of Fresenius is assessed and regularly reviewed by the leading rating agencies Moody’s, Standard & Poor’s, and Fitch.

In 2013, all rating agencies have adjusted their outlook on the corporate credit rating. In March 2013, Standard & Poor’s raised the outlook from stable to positive. In June 2013, Fitch changed the outlook from stable to positive. In August 2013, Moody’s also changed the outlook from stable to positive.

After the announcement of the planned acquisition of hospitals from Rhön-Klinikum AG in September 2013, Fitch put the rating on “watch evolving,” stating that the outlook could, at worst, be changed to stable, however that the company’s credit rating would remain unchanged. Moody’s adjusted the outlook from positive to negative. Standard & Poor’s confirmed the positive outlook in October 2013.

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