NORTH
CANTON, Ohio, Oct. 16,
2024 /PRNewswire/ -- Diebold Nixdorf (NYSE:
DBD), a world leader in transforming the way people bank and shop,
today announced that Moody's Ratings (Moody's) has recently
upgraded its credit rating for the company, reflecting solid
operational execution and expectations for improved annual free
cash flow generation.
Moody's recently issued a Ratings Action stating that
it has upgraded the credit ratings of Diebold Nixdorf, Inc. to B3 from Caa1. Moody's
outlook remained positive. The upgrade reflects the company's
progress in achieving greater linearity of cash flows and
expectations for better annual free cash flow generation than
previously expected. Moody's also noted that the positive outlook
reflects expectations that Diebold
Nixdorf will continue to make progress towards linearizing
its quarterly cash flows, generating consistent annual free cash
flow and maintaining an adequate liquidity position through
different cycles.
Tom Timko, Diebold Nixdorf executive vice president and
chief financial officer, said: "We remain focused on
strengthening our balance sheet and driving improved operational
execution. Earlier this year, we paid down $200 million of debt and placed a similarly sized
revolving credit facility to improve our capital structure.
Operationally, we are driving margin expansion to increase
profitability and improving both free cash flow generation and
quarterly linearity. The ratings upgrade and positive outlook
affirm we are taking the appropriate actions through our continuous
improvement initiatives to further strengthen the company's overall
financial profile and better positions us for our upcoming debt
refinancing."
About Diebold Nixdorf
Diebold Nixdorf, Incorporated
(NYSE: DBD) automates, digitizes and transforms the way people bank
and shop. As a partner to the majority of the world's top 100
financial institutions and top 25 global retailers, our integrated
solutions connect digital and physical channels conveniently,
securely and efficiently for millions of consumers each day. The
company has a presence in more than 100 countries with
approximately 21,000 employees worldwide.
Visit www.DieboldNixdorf.com for more information.
X: @DieboldNixdorf
LinkedIn: www.linkedin.com/company/diebold
Facebook: www.facebook.com/DieboldNixdorf
YouTube: www.youtube.com/dieboldnixdorf
Forward-Looking Statements
This press release may contain forward-looking statements that
are not historical information and are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements give current expectations or
forecasts of future events and are not guarantees of future
performance. Statements can generally be identified as forward
looking because they include words such as "believes,"
"anticipates," "expects," "intends," "plans," "will," "estimates,"
"potential," "target," "predict," "project," "seek," and variations
thereof or "could," "should" or words of similar meaning.
Statements that describe the Company's future plans, objectives or
goals are also forward-looking statements, which reflect the
current views of the Company with respect to future events and are
subject to assumptions, risks and uncertainties that could cause
actual results to differ materially. Although the Company believes
that these forward-looking statements are based upon reasonable
assumptions regarding, among other things, the economy, its
knowledge of its business, and key performance indicators that
impact the Company, these forward-looking statements involve risks,
uncertainties and other factors that may cause actual results to
differ materially from those expressed in or implied by the
forward-looking statements. For a further discussion of these and
other factors that could cause the Company's future results to
differ materially from any forward-looking statements, see the
reports and other filings by the Company with the U.S.
Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K for the year ended December 31, 2023, as
filed with the SEC on March 8, 2024,
and the Company's most recent Quarterly Report on Form 10-Q for the
quarterly period ended June 30, 2024,
as filed with the SEC on August 7,
2024. Except to the extent required by applicable law or
regulation, the Company undertakes no obligation to update these
forward-looking statements to reflect future events or
circumstances or to reflect the occurrence of unanticipated
events.
DN-C
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SOURCE Diebold Nixdorf,
Incorporated