SiC Processing GmbH
SiC Processing GmbH: Creditreform gives SiC Processing GmbH a rating of C (watch)
SiC Processing GmbH / Key word(s): Miscellaneous 06.11.2012 / 18:20 --------------------------------------------------------------------- Hirschau, November 6, 2012 - Creditreform Rating AG changed the rating of SiC Processing GmbH from CCC (watch) to C (watch). The downgrade was based on the development of the company and the persistently difficult market conditions. A significant increase in liabilities, especially from a parent guarantee towards the landlord of the Norwegian subsidiary, as well as payment delays of customers combined with persistently difficult market conditions caused a situation, where SiC Processing GmbH would not have been able to meet its payment obligations. A shareholder loan could not be called under these circumstances. The company and major creditors therefore agreed to a deferral of payment until February 28, 2013. To ensure liquidity after February 28, 2013, a restructuring plan will be developed in the coming weeks. The press announcement of these developments from November 5 is available on the website of SiC Processing GmbH (www.sic-processing.com). The certificate for the rating change of the November 6, 2012 will be available shortly on our website www.sic-processing.com. Register on our Website under http://www.sic-processing.com/index.php/Newsletter.html to receive the latest announcement of SiC Processing Group automatically. SiC Processing GmbH SiC Processing GmbH is the leading provider for the recovery of used slurry from the photovoltaic and the semiconductor industry. With 773 employees worldwide (as of end September 2012) the group is located in 5 countries all over the world with production sites in Germany, China and US and a sales office in Italy. Production sites in Norway were closed down mid 2012. The founder family holds a 25% stake beside the majority shareholder Nordic Capital Fund VII. Press Contact: Markus Kreuzer Head of Marketing and Communications Phone: 0049 (0) 9622 - 70 39 273 E-Mail: markus.kreuzer@sic-processing.de End of Corporate News --------------------------------------------------------------------- 06.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 191826 06.11.2012
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