Diebold Nixdorf (DBD) Receives Credit Rating Upgrade with Positive Outlook

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."

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