BMW 2014 Annual Report Download - page 89
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89 COMBINED MANAGEMENT REPORT
Ratings remain at top level
The BMW Group continues to have the best ratings in
the European automobile sector. Since December 2013,
BMW AG has a long-term rating of A+ (stable outlook)
and a short-term rating of A-1 from the rating agency
Standard & Poor’s. The equivalent ratings from the
rating agency Moody’s were A2 (stable outlook) and P-1.
These rating assessments underline the BMW Group’s
robust financial profile and solid creditworthiness.
Thanks to these attributes, the company not only has
good access to international capital markets, it also bene-
fits
from attractive refinancing conditions, which are
particularly
helpful for the BMW Group’s financial ser-
vices business.
Intensive communication with capital markets
The BMW Group continued to keep analysts, private
and institutional investors, and rating agencies up to
date throughout 2014 by means of its regular quarterly
and year-end financial reports. In addition, numerous
one-to-one discussions, group discussions and road-
shows addressed a broad range of capital market partici-
pants. These activities also included roadshows for in-
vestors interested in socially responsible investment
(SRI) and wishing to incorporate sustainability criteria
in their investment decisions as well as a series of events
for debt capital investors and credit analysts. Communi-
cation focused primarily on the launch of numerous
new models, BMW i and alternative drive systems, and
developments on the Chinese market. In addition to
presenting new models (including the BMW i8 and the
2 Series Active Tourer) and arranging various events
and test drives in the USA and Europe, we also organised
a Capital Markets Day in China for analysts and investors.