Debt Capital

Get an overview of our debt refinancing strategy and all the associated ratings information.

The GRENKE Group on the international capital markets

The international capital markets are of particular significance as part of the GRENKE Group’s refinancing strategy, since they allow for a liquidity supply at attractive conditions.

We utilise the capital markets through issues of instruments such as commercial papers, medium term notes, asset-backed securities, participation certificates. The highly flexible tap issue programmes we have established in various countries and currencies support these measures.


Publishing and sending information material on issued bonds may be interpreted as advertising for these financial instruments. Advice on and sales of GRENKE bonds therefore take place solely via banks and savings banks. Should you have any questions regarding GRENKE bonds, please contact a bank or financial adviser.


Detailed information on the individual financing instruments at GRENKE can be found in the current annual report.

Links and Downloads

Ratings of GRENKE AG

Long Term / Short Term

Standard & Poor’s

BBB+ / A-2


December 2020

In its latest analysis, dated December 11, 2020 the rating agency Standard & Poor's removed the Credit-Watch Negative and affirms the Group's counterparty credit rating BBB+ / A-2. The CreditWatch was put in place on September 17, 2020 due to uncertainties following a publication by the company "Viceroy Research". S&P´s outlook on the long term rating is negative.

Long Term / Short Term

GBB Rating

A / –


October 2020

With the 8th of October 2020, GBB Rating has confirmed the A-Rating but changed the outlook from “stable” to “negative” because of the current situation.

Rating Documents

The following rating documents provide a detailed view of our credit rating from Standard & Poor’s and GBB.

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Team Investor Relations

If you have any questions about investor relations, we are happy to advise you personally. Please call your contact person or write to us using our contact form.