Ratings evaluate the ability of a company to meet its financial obligations. They communicate the creditworthiness of a company to potential debt capital investors. In addition, ratings facilitate access to international capital markets. METRO AG has commissioned one of the leading international rating agencies - Standards & Poor's -  to continuously analyse METRO GROUP’s creditworthiness.

METRO GROUP is rated as follows:

 Until 2012
Since 2012

Status: 31 December 2015

Based on its current ratings, METRO GROUP has access to all debt capital markets.

Rating chart Standard & Poor's

Financing programmes

A fundamental funding policy guideline is to sustain the group's financial independence and ensure proper access to financial markets. Therefore we have a €2 bn Euro Commercial Paper Programme and 2 bn Euro French CP as well 6 bn Euro Debt Issuance Programme in place.

Debt Issuance Programme (DIP)

For the long-term funding of the Debt Issuance Programme launched in 2000, we have available the original nominal volume which was increased from €3 billion to €5 billion in 2003 and to €6 billion in May 2010. In the framework of this programme, bonds with maturities of up to 30 years can be issued in any currency.

€6 bn Debt Issuance Programme

Utilisation as per 31 December 2015: € 3.55 billion

Offering Circular, 10 February 2016, PDF 1.4 MBFirst Supplement, 29 February 2016, PDF 0.1 MB



  • Citigroup Global Markets Ltd.
  • Commerzbank AG
  • Deutsche Bank AG
  • Goldman Sachs International
  • HSBC Bank plc/HSBC Trinkaus & Burkhardt AG
  • ING Bank N. V.
  • J.P. Morgan Securities plc
  • Société Générale 
  • The Royal Bank of Scotland plc
  • UniCredit Bank AG

Outstanding DIP issues (selection) 

 ISIN Code  Currency Amount Interest Basis Issue Date Maturity Date Final Terms
 XS1203941775  EUR  600mn  1.50%  19/03/2015  19/03/2025  pdf (477 KB)
 DE000A13R8M3  EUR  500mn  1.375%  28/10/2014  28/10/2021  pdf (233 KB)
 EUR  500mn
 pdf (226 KB)
 DE 000 A1MA9K8
 3.375%  01/03/2012
 pdf (314 KB)
 DE 000 A1C92S3
 750mn  4.25%
 pdf (1.8 MB)

Commercial Paper Programmes

For short and medium-term financing, METRO GROUP uses regular issuance programmes customary in capital markets such as the Euro Commercial Paper Programme launched in 1999 and an additional French Commercial Programme (Billets de Trésorerie) launched in 2003.

€2 bn Euro Commercial Paper Programme 

Prospectus, PDF 0.2 MB



  • BayernLB
  • Commerzbank Corporates & Markets
  • Credit Suisse
  • Deutsche Bank
  • Dresdner Kleinwort
  • Fortis Bank
  • HSBC
  • ING Wholesale Banking
  • Landesbank Baden-Württemberg
  • Natixis
  • The Royal Bank of Scotland

€2 bn TCN (Billét de Trésorie) Programme

Prospectus , PDF 0.12 MB



  • Natixis
  • HSBC France
  • Credit Agricole CIB
  • Société Générale
  • BNP Paribas
  • Deutsche Bank AG, London Branch
  • ING Bank N.V.
  • Banque Federative du Credit Mutuel

Liquidity back-up

METRO GROUP has access to an appropriate liquidity reserve at all times so the Group will not have its financial flexibility impaired even in case of the occurrence of unexpected situations which might have a negative financial impact.

  • Syndicated Loan / €1,525 bn / 2014 - 2020
  • Syndicated Loan / €1,000 bn / 2012 - 2019
  • Bilateral credit lines €0.500 bn with multi-year character

Status: 31 December 2015

Debt Maturity Profile

Debt maturity profile of METRO GROUP as of 30/09/2016

Status: 30 September 2016

A well balanced debt repayment profile, both in maturities and instruments, is a key element in providing financial independence and flexibility.

Analyst Coverage


 Bank  Analyst
 Barclays Capital  Vicki Gedge
 Yannis Mavridis
 Dennis Schmitt
 Deutsche Bank
 Aman Kumar
 DZ Bank
 Nina Kilb
 Max Castle
 Gerold Deppisch
 Rocco Schilling
 JP Morgan
 Alketa Ruci
 Mark Olsen
 Isadora Bartolome
 Société Générale
 Simon Cowie

Status: as of January 2015

Training Room Insight


The most important events for investors and credit insurers

Creditor Relations Events

Employee in a call


Please contact the Creditor Relations division for any questions regarding METRO bonds.

Creditor Relations contact persons

Share page