Sunday 23 September 2018

Moody's reloads its rating on EU gun-maker

Hechler & Koch machine-guns were used by the villains in the original ‘Die Hard’ movie
Hechler & Koch machine-guns were used by the villains in the original ‘Die Hard’ movie

Patrick Edwards

Moody's Investors Service, (Moody's) yesterday withdrew Heckler & Koch's Caa1 corporate family rating (CFR), the Caa1-PD probability of default rating (PDR) and its negative outlook.

Moody's has decided to withdraw the ratings for its own business reasons.

Headquartered in Oberndorf, Germany, Heckler & Koch is a privately-owned defence contractor in the small arms sector.

Heckler & Koch predominantly supplies the armed forces of Nato and Nato equivalent countries, European and US Special Forces, European police forces and US federal law enforcement agencies.

The company also serves the commercial market. In 2017 Heckler & Koch generated sales of €182m and reported EBITDA of €30m.

The company's notable products include the MP5, UMP submachine guns, the G3, HK417 battle rifles, the HK33, G36, HK416 assault rifles, the MG5, HK21 General-purpose machine guns, the MP7 personal defence weapon, the USP series of handguns, and the high-precision PSG1 sniper rifle. Its hardware has featured in numerous Hollywood movies, most notably its machine-guns, which were the weapon of choice of Hans Gruber's villains in the original Die Hard movie, starring Bruce Willis. (Bloomberg)

Irish Independent

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