Balance sheet scandal: Moody's upgrades Wirecard to junk level

in the face of the balance sheet scandal with Wirecard, the analysts of the rating Agency Moody's downgraded the rating of the payment service provider of the

Balance sheet scandal: Moody's upgrades Wirecard to junk level

in the face of the balance sheet scandal with Wirecard, the analysts of the rating Agency Moody's downgraded the rating of the payment service provider of the same six steps down to B3. The bonds issued by Wirecard are only to junk level. A further downgrade would be considered, said Moody's. For Wirecard, and it is significantly more difficult but more expensive to Finance in the future.

Many investors moved in on Saturday the rip cord. When the Broker Long & Black, also on Saturday can be traded, and listed the papers of the Dax group in the early afternoon at 22,25 Euro and thus just under 14 percent below its Friday closing price. The daily turnover was around 2 million euros was exceptionally high. Wirecard shares tumbling since Thursday through the Floor. On Friday they closed with a Minus of 35 percent to 25,82 euros. Thus, three-quarters of the stock market value of the goods, within two days there. Almost 10 billion euros had vanished into thin air.

On Friday evening, the group was known to have the investment Bank Houlihan Lokey hired to develop with you together "a Plan for the sustainable financing strategy of the company". Houlihan Lokey is regarded as a specialist for difficult restructuring and bankruptcy cases, and was already in the cases of Enron, Lehman Brothers and - in this country - Steinhoff is active.

Updated Date: 21 June 2020, 06:20

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