Company

25 July 2022

Standard & Poor’s upgrades the REWE Group’s rating

Upgrade to BBB, business profile cited in particular

Today, 25.07.2022, Standard & Poor’s (S&P) upgraded the REWE Group’s rating from BBB- to BBB (outlook: stable). In its analysis, S&P commended the REWE Group for its stable business profile that includes excellent market positions in Germany, Austria and the Czech Republic. In addition, the REWE Group is a true driver of innovation, S&P noted. As an example of the company’s ingenuity, the rating agency said the REWE Group was one of the first trade companies to introduce convenience formats, focus on regional and organic products and introduce nationwide online grocery retailing in Germany.

“We are very proud of the upgrade of our rating,” said Telerik Schischmanov, the CFO of REWE Group. “We feel that our strategy of sustainable, long-term growth has been affirmed and are pleased that S&P has recognised the continuously positive performance of the REWE Group in recent years and has confidence in our financial strength and strategy. This is a strong signal for security and stability, particularly in today’s business environment.”

The renowned rating agency gave the REWE Group a rating of BBB- (outlook: stable) for the first time in February 2010. It retained this rating until today’s upgrade. This made the REWE Group the first cooperatively organised company in Germany to receive an internationally recognised rating. The rating has been investment grade since the initial rating process and is constantly monitored and updated in annual management meetings and through continuous communication between the REWE Group and the rating agency. It attests to security and stability in dealings with third parties. As a result, the rating forms the foundation for efforts to raise funds in the capital market and helps diversify financing sources.

About REWE Group

The cooperatively organized REWE Group is one of the leading trade and tourism groups in Germany and Europe. In 2020, the company generated a total external turnover of around 75 billion euros. Founded in 1927, REWE Group operates with 380,000 employees in 21 European countries.

The sales lines include REWE, REWE CENTER and BILLA as well as BILLA PLUS and ADEG supermarkets and consumer stores, the discounter PENNY, IKI, the drugstores BIPA and the toom Baumarkt DIY stores. The company also operates convenience stores REWE To Go and the e-commerce activities REWE Lieferservice and Zooroyal. The Lekkerland Group comprises the wholesale activities of the business group in the area of on-the-go consumption.Travel and tourism under the umbrella of DER Touristik Group includes the tour operators DERTOUR, Jahn Reisen, ITS, Meiers Weltreisen, Travelix, Kuoni, Helvetic Tours, ITS Coop Travel, Billa Reisen, Koning Aap, Apollo, Exim Tours and Fischer as well as more than 2,300 travel agencies (e.g. DERTOUR, DERPART, Kuoni, Exim, Fischer and cooperation partners), the hotel brands Sentido, Aldiana, Calimera, Cooee, and the online travel portal Prijsvrij Vakanties.

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Contact
Andreas Krämer
Spokesperson REWE Group

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