6/19/2020, 10:21 PM (Source: TeleTrader)
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Moody's downgrades Wirecard to B3

Moody's Investors Service, has announced on Friday to downgrade the €500 million senior unsecured rating of Wirecard AG to B3 from Baa3.

The company said that the downgrade of Wirecard's ratings and review for further downgrade "reflect the accounting irregularities and related implications on the company's liquidity and financial profile following its failure to publish the already postponed audited consolidated accounts for 2019."

Earlier today Markus Braun, CEO of Wirecard, resigned effective immediately as a member of the management board.

Baha Breaking News (BBN) / TF