Rickmers Holding AG i.I.
Rickmers Holding AG rating updated to CC (negative outlook)

Rickmers Holding AG  / Key word(s): Rating

15.11.2016 13:15

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15 November 2016

Disclosure of inside information
according to Article 17 Market Abuse Directive

Rickmers Holding AG rating updated to CC (negative outlook)

Hamburg, 15 November 2016 - The rating agency Creditreform has updated its
rating for Rickmers Holding AG, parent of the shipping company Rickmers
Group, from CCC (negative outlook) to CC (negative outlook).

Creditreform bases the new rating above all on the overall market
conditions prevalent in the container shipping sector and the corresponding
weaker development of the Rickmers Group's operative business as well as
the resulting impairments.

To counteract the current market conditions, the Rickmers Group is working
on the implementation of a bundle of multistage measures. In particular,
this is intended to strengthen the company's liquidity position and to
restructure its liabilities. As communicated on 11 November 2016, as part
of its refinancing of selected bank loans the Rickmers Group has formally
approached the Group's principal lending banks to agree a repayment profile
and covenant structure, among other measures, that better reflect the
current crisis in the shipping sector.


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Information and Explanation of the Issuer to this News:

About the Rickmers Group
The Rickmers Group is an international service provider in the maritime
transport sector and a containership owner with a global blue chip customer
base. It is represented through its main offices in Hamburg and Singapore,
in eleven countries and more than 50 sales agencies worldwide. The Group's
business activities are divided into three segments: Maritime Assets,
Maritime Services and Rickmers-Linie.

In the Maritime Assets segment the Rickmers Group is active as Asset
Manager for its own vessels and also for those of third parties. The Group
initiates and coordinates shipping projects, organises financing and
acquires, charters and sells ships. In the Maritime Services business
segment the Rickmers Group provides shipmanagement services for its own
vessels as well as for those owned by third parties; these services
comprise technical and operational management, crewing, newbuild
supervision, consultancy and insurance-related services. In the Rickmers-
Linie business segment the Rickmers Group operates as a shipping line for
breakbulk, heavy lift and project cargo, and additionally offers individual
voyages.

Press enquiries:

Kirchhoff Consult AG
Jens Hecht
T: +49 (0)40 60 91 86 0
F: +49 (0)40 60 91 86 60
E: jens.hecht@kirchhoff.de

The material set forth in this announcement is for informational purposes
only and does not constitute an offer of securities for sale in the United
States. The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
Securities Act), or with any securities regulatory authority of any state
or other jurisdiction of the United States, and may not be offered or sold
within the United States except pursuant to an exemption from the
registration requirements of the Securities Act and any applicable
securities laws of any state or other jurisdiction of the United States. No
public offering of securities will be made in the United States.

The material set forth in this announcement does not constitute an offer of
securities for sale in any jurisdiction in which such an offer or
solicitation is unlawful. No public offering of securities will be made in
any member state of the European Economic Area.

15.11.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Language:     English
Company:      Rickmers Holding AG
              Neumühlen 19
              22763 Hamburg
              Germany
Phone:        +49 40 389177 0
Fax:          +49 40 389177 500
E-mail:       info@rickmers.com
Internet:     www.rickmers.com
ISIN:         DE000A1TNA39
WKN:          A1TNA3  
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
              Hanover, Munich, Stuttgart, Tradegate Exchange; Open Market
              in Frankfurt (Prime Standard for Corporate Bonds)
 
End of Announcement                             DGAP News-Service
 
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