Daimler Truck receives solid investment grade ratings ahead of listing.

October 28, 2021 – On its way to the expected listing on the Frankfurt Stock Exchange by the end of this year, Daimler Truck had approached S&P Global Ratings (S&P) and Moody’s Investor Service (Moody’s) for setting up first time credit ratings. Both rating agencies now communicated solid investment grade ratings for Daimler Truck. S&P Global Ratings assigned a long-term issuer credit rating of BBB + (outlook stable) while Moody’s assigned a long-term issuer credit rating of A3 (outlook stable).

  • First time investment grade ratings for Daimler Truck published by Moody’s and S&P Global Ratings
  • S&P Global Ratings assigns first time credit rating of BBB + with stable outlook
  • Moody’s assigns first time credit rating of A3 with a stable outlook
  • Credit ratings reflect confidence in Daimler Trucks substantial scale, strong market positions in profitable markets and its sound and conservative financial policy
  • Capital Market Day scheduled for Nov 11th; Initial Listing on Frankfurt Stock exchange in Dec 2021

These ratings are a confirmation, that Daimler Truck is ready for independence – guided by a clear strategy and with a strong financial profile. This will support our growth in the financial services segment and our ambition[1]The ambition of the Mercedes-Benz Group is by 2039 to reduce its CO₂ emissions by 90% in its own production, by 80% in the vehicle use phase, where market conditions permit, and by 70% across all relevant stages of the value chain, compared to 2019. In addition, the Mercedes-Benz Group supports qualified climate change mitigation projects that meet recognized standards.
By 2049 at the latest, the Mercedes-Benz Group intends to achieve net-zero. Net-zero means that the CO₂ emissions will be reduced by at least 90% compared to 2019. Remaining CO₂ emissions (< 10%) will be neutralized permanently.
to achieve higher margins.

Jochen Goetz, Chief Financial Officer of Daimler Truck

S&P’s BBB + / A-2 preliminary long-and short-term issuer rating reflects the agency’s assessment of Daimler Truck having strong market positions in the most profitable markets, U.S. and Europe. In addition S&P positively noted that Daimler Truck has developed an ambitious profitability roadmap to improve the resilience of its operating performance during industry downturns and is preparing for the energy transition towards zero-emission vehicles. The final rating will depend on the receipt and satisfactory review of the final transaction documentation.

Moody’s A3 long-term and Prime-2 short-term issuer rating of Daimler Truck reflects the group’s substantial scale as the world’s largest manufacturer of commercial vehicles by revenues; its good diversification with seven individual brands, and leading positions in the US and European markets. Moody’s also mentioned Daimler Truck’s potential to grow margins via efficiency measures, the companies conservative financial policy and a strong liquidity profile.

Martin Daum, Chief Executive Officer of Daimler Truck and his Board of Management team will present the future direction and strategic goals of the new company on a Capital Market Day, November 11th, 2021.

Initial Listing on Frankfurt Stock Exchange is expected to be in December 2021.

This page contains forward-looking statements.