Fixed income and credit ratings
2021
Current credit rating
| Fitch | S&P | Moody's | |
|---|---|---|---|
| Corporate Rating | BB- | BB- | B1 |
| Senior secured debt | BB+ | BB | Ba3 |
| Senior unsecured debt | B+ | B | B3 |
| Outlook | Stable | Negative | Negative |
| Latest review | September 2021 | September 2021 | December 2021 |
Notice: These credit ratings are only an opinion on the solvency level of the Company and may be reviewed, suspended or withdrawn at any time by the respective rating agencies.
Current debt issues
| Issuer | Issue date | Amount (M) | Currency | Term at issue (years) | Rank | Maturity | Coupon | Coupon payment | ISIN Code |
|---|---|---|---|---|---|---|---|---|---|
| Grifols S.A. | 1 May 2017 | 1,000 | EUR | 8 | Senior unsecured | 1 May 2025 | 3.20% | Semi-Annual | XS1598757760 XS1598758578 |
| Grifols S.A. | 15 November 2019 | 837.9 (2) | EUR | 5.25 | Senior secured | 15 February 2025 | 1.625% | Semi-Annual | XS2076836555 XS2076836639 |
| Grifols S.A. | 15 November 2019 | 739.6 (2) | EUR | 8 | Senior secured | 15 November 2027 | 2.25% | Semi-Annual | XS2077646391 XS2077647365 |
| Grifos Escrow Issuer, S.A.U | 5 October 2021 | 1,400 | EUR | 7 | Senior unsecured | 15 October 2028 | 3.875% | Semi-Annual | XS2393001891 XS2393002519 |
| Grifos Escrow Issuer, S.A.U | 5 October 2021 | 705 (1) | USD | 7 | Senior unsecured | 15 October 2028 | 4.75% | Semi-Annual | USE57009AA55 US39843UAA07 |
(1) equivalent to 600M EUR
(2) Principal amount reflects the cancellation of Notes repurchased on January 11, 2022 pursuant to the terms of the Asset Sale Offer dated December 2, 2021
2020
Current credit rating
| S&P | Moody's | |
|---|---|---|
| Corporate Rating | BB | Ba3 |
| Senior secured debt | BB+ | Ba2 |
| Senior unsecured debt | B+ | B2 |
| Outlook | Stable | Negative |
| Latest review | July 2020 (NC) | November 2020 (NC, except for change outlook) |
NC: No changes following the lastest review
Notice: These credit ratings are only an opinion on the solvency level of the Company and may be reviewed, suspended or withdrawn at any time by the respective rating agencies.
2019
| S&P | Moody's | |
|---|---|---|
| Corporate Rating | BB | Ba3 |
| Senior secured debt | BB+ | Ba2 |
| Senior unsecured debt | B+ | B2 |
| Outlook | Stable | Neutral |
| Latest review | November 2019 (NC) | November 2019 (NC) |
NC: No changes following the lastest review
2018
| S&P | Moody's | |
|---|---|---|
| Corporate Rating | BB | Ba3 |
| Senior secured debt | BB+ | Ba2 |
| Senior unsecured debt | B+ | B2 |
| Outlook | Stable | Neutral |
| Latest review | June 2018 (upgrade) | April 2018 (NC) |
NC: No changes following the lastest review
2017
Credit Rating December 2017
| S&P | Moody's | |
|---|---|---|
| Corporate Rating | BB | Ba3 |
| Senior secured debt | BB | Ba2 |
| Senior unsecured debt | B+ | B2 |
| Outlook | Stable | Neutral |
2016
Credit Rating December 2016
| S&P | Moody's | |
|---|---|---|
| Corporate Rating | BB | Ba3 |
| Senior secured debt | BB | Ba2 |
| Senior unsecured debt | B+ | B2 |
| Outlook | Stable | Neutral |
2015
Credit Rating December 2015
| S&P | Moody's | |
|---|---|---|
| Corporate Rating | BB | Ba2 |
| Senior secured debt | BB | Ba1 |
| Senior unsecured debt | B+ | B1 |
| Outlook | Stable | Neutral |
2014
Credit Rating December 2014
| S&P | Moody's | |
|---|---|---|
| Corporate Rating | BB | Ba2 |
| Senior secured debt | BB | Ba1 |
| Senior unsecured debt | B+ | B1 |
| Outlook | Stable | Negative |
2013
Credit Rating December 2013
| S&P | Moody's | |
|---|---|---|
| Corporate Rating | BB | Ba2 |
| Senior secured debt | BB+ | Ba1 |
| Senior unsecured debt | B+ | B1 |
| Outlook | Stable | Negative |
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