The credit rating Agency Moody’s threatens to Wirecard with a downgrade of the credit rating to junk status. The experts put the “Baa3″Rating on the watch list for a possible reduction, such as Moody’s announced on Tuesday. So far, the Outlook was “stable”. The current rating of “Baa3” is still in the investment area – one level deeper in the junk area begins.
As the reason for the negative sentiment, Moody’s cited the continuing uncertainty in the media referred to the allegations of the falsification, which has not been managed by a special audit from the world, as well as the multiple suspended publication of the annual financial statements for 2019. This increased the risk that the customers for reputational reasons of Wirecard turned away and the operational side of the business including suffer. This is charged by the Corona pandemic, which had the Potential for “significant negative impact” on the financial strength of the Dax group.
WIRECARD — — (–) Xetra tradegate London SE Int. Level 1Lang & Schwarz, Stuttgart, Switzerland OTCFrankfurtSchweizWien 1T 1W 3M 1J 3J 5J For detail view
In multiple media Wirecard in the last few years of false Accounting in the case of foreign subsidiaries are accused of. In order to establish the accusations from the world, had asked the Supervisory Board, a special audit by KPMG. The auditors had identified deficiencies in internal controls, and several allegations due to the lack of documents can not refute.
