FRANKFURT, April 18 Standard & Poor's has
revised its ratings outlook for German investment group Haniel
to "positive" from "stable", after the group
bolstered its finances.
Haniel has been shedding assets to offset a massive 2012
writedown on its holding in German retailer Metro and
reduce debt, which stood at 1.6 billion euros ($2.2 billion) at
the end of 2013.
Family-owned Haniel also received about 2 billion euros
following the sale of its stake in German drugs distributor
Celesio to U.S. drugs group McKesson this
"The improved outlook reflects Haniel's very substantial
financial flexibility and improved financial risk profile
following the sale of our stake in Celesio," Haniel said in a
S&P also confirmed Haniel's rating at BB+.
($1 = 0.7228 euros)
(Reporting by Victoria Bryan; Editing by Louise Ireland)