Business Wire

Lenovo Granted Strong Investment-Grade Ratings by ‘Big Three’ Credit Rating Agencies

Share

Following a thorough assessment by the world’s three leading credit rating agencies, Lenovo Group (HKSE: 992) (Pink Sheets: LNVGY) has received strong inaugural investment-grade ratings. Moody’s rated Lenovo ‘Baa3’ with a stable outlook, Standard & Poor’s assigned Lenovo ‘BBB-’ rating with a stable outlook, and Fitch granted the company a ‘BBB-’ with a positive outlook.

These ratings recognize Lenovo’s market leadership, sustainable growth and outlook, coupled with robust financial fundamentals. The agencies highlight their expectation that Lenovo will continue to grow its revenue scale and scope whilst maintaining its profitability, leading position in the PC market and prudent approach to capital spending and investments.

According to Moody’s, the rating reflects the company’s position as a leading PC provider with a long operating history and track record of both organic and inorganic business growth, as well as the company’s diverse and balanced geographic presence, along with excellent financial liquidity.

For Standard & Poor’s, the rating reflects Lenovo’s strong position in the PC market, good supply chain management, geographic diversity in end-demand and manufacturing, and relatively low adjusted debt leverage.

Fitch’s rating reflects their expectations that Lenovo will continue to maintain its market leadership in the global PC industry with steadily improving profitability, further gains in the worldwide server market, robust software and service revenue, continued positive free cash flow generation and its commitment to use excess cash to pay down debts.

“These strong ratings reflect our track record of delivering sustainable long-term growth,” said Wai-Ming Wong, Chief Financial Officer of Lenovo. “We are committed to continuing the momentum through our core businesses as well as the new services and solutions opportunities presented by our service-led intelligent transformation.”

About Lenovo

Lenovo (HKSE: 992) (ADR: LNVGY) is a US$50 billion Fortune Global 500 company, with 63,000 employees and operating in 180 markets around the world. Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that create a more inclusive, trustworthy and sustainable digital society. By designing, engineering and building the world’s most complete portfolio of smart devices and infrastructure, we are also leading an Intelligent Transformation – to create better experiences and opportunities for millions of customers around the world. To find out more visit https://www.lenovo.com, follow us on LinkedIn, Facebook, Twitter, YouTube, Instagram, Weibo and read about the latest news via our StoryHub.

Contact information

Hong Kong – Angela Lee,angelalee@lenovo.com, +852 2516 4810

London – Charlotte West, cwest@lenovo.com, +44 7825 605720

Zeno Group - LenovoWWcorp@zenogroup.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

RIDDLE&CODE Launches Trusted Gateway to Accelerate the Future of the Distributed Energy Market and Enable New Business Models25.11.2020 10:30:00 CETPress release

The shift from the centralised energy system with a small number of dominant bulk producers to a decentralised renewable marketplace with a multiway flow of information requires not only new business models and entities but also a guarantee that the data generated out of them are trusted and immutable. RIDDLE&CODE laid the foundation for accelerating the future of decentralised energy by introducing the Trusted Gateway. At the core of the Trusted Gateway is the Secure Element, a part of RIDDLE&CODE’s “Built for Blockchain” product range, enabling the secure storage of the digital identity (private key) on any device through a combination of hardware and software. By providing secure public/private key infrastructure, the Trusted Gateway solves the problem of machine identity and creates a unique, cryptographically secured digital representation of an object, assigning it with identity, addressability and transaction capabilities. “In the context of the energy system, by giving the digi

BearingPoint: Organizations That Invest in Frontline Managerial Skills Are More Resilient and Adaptable Than Competitors25.11.2020 08:57:00 CETPress release

The Covid-19 pandemic has shown that organizations that invest in frontline managerial skills are more resilient and adaptable than competitors. Frontline managers initiate process improvements and new ways of working. According to a recent study by the BearingPoint Institute, the research arm of management and technology consultancy BearingPoint, company leaders must make frontline managers a driving force for change to ensure transformation success and adapt to market changes. "With transformational pressures exerting themselves on business, frontline managers have never been more crucial to organizations. Our study shows how important it is to develop, empower and unleash the skills, enthusiasm, and innovation of these leaders. It is the only way to get the most out of digitalization and quickly adapt to the continuously changing market. Investing in frontline management will not only mean continuing success, but it will help you identify and hone tomorrow's leaders," says André Est

European Commission Approves Janssen’s TREMFYA ® ▼ (guselkumab), a First-in-Class Treatment for Active Psoriatic Arthritis (PsA)25.11.2020 08:00:00 CETPress release

The Janssen Pharmaceutical Companies of Johnson & Johnson announced today that the European Commission (EC) has approved TREMFYA®▼ (guselkumab) for the treatment of adult patients with active psoriatic arthritis (PsA) who have had an inadequate response or who have been intolerant to a prior disease-modifying antirheumatic drug (DMARD) therapy. Guselkumab is the first approved fully human monoclonal antibody that selectively binds to the p19 subunit of interleukin (IL)-23 and inhibits its interaction with the IL-23 receptor. It is already approved for the treatment of patients with moderate to severe plaque psoriasis. IL-23 is an important driver of the progression of inflammatory diseases including psoriasis and PsA, among others.1 PsA is a multifaceted, chronic, immune-mediated inflammatory disease that is progressive and is characterised by debilitating joint damage and inflammation, in addition to enthesitis, dactylitis, axial disease, and the skin lesions associated with psoriasis

Universal Peace Federation: 70 Years After the Korean War World Leaders Call for Peace at Online Rally of Hope24.11.2020 19:19:00 CETPress release

Millions of viewers tuned into hundreds of broadcast stations and gathered online to call for peace among and between nations at the third Rally of Hope sponsored by the Universal Peace Federation (UPF) in Korea on Sunday, Nov. 22. UPF was founded in 2005 by Rev. Dr. Sun Myung Moon and Dr. Hak Ja Han Moon and is an NGO in General Consultative Status with the United Nations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201124005906/en/ Dr. Hak Ja Han Moon addresses live audience and online participants from all around the world at the Rally of Hope (Photo: Business Wire) Mrs. Moon announced two new projects: to set up Korean War memorials in those nations that do not yet have them and create an online registry of all those who sacrificed in any way to support Korea during its darkest hour. “All around the world, unforeseen and unexpected challenges are erupting in the realms of politics, economy and religion” she said. “We

Verimatrix Chief Revenue Officer Named to SportsPro OTT Summit Advisory Board24.11.2020 17:45:00 CETPress release

Regulatory News: Verimatrix, (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced that Lu Bolden, Chief Revenue Officer, was named to the SportsPro OTT Summit Advisory Board, the group that shapes one of world’s most prominent sports broadcasting annual events. The second annual event takes place December 2-3, 2020. Organized by SportsPro Media, this year’s virtual SportsPro OTT Summit is the preeminent venue for learning the latest in strategy, content and technology trends in the sports broadcasting market. The OTT Summit Advisory Board reads as a who’s who of the digital sports broadcasting realm, including executives from the UFC, NFL, MotoGP, Fox Sports, DAZN, PGA Tour, Canal+, Formula One, NBC Sports and the International Olympic Committee. Bolden brings to the group the needed expertise in how to easily deliver excellent fan experiences on any device while also securely scaling during popular live eve

ender diagnostics Receives FDA Notification for Rapid and Reliable COVID-19 Tests24.11.2020 15:41:00 CETPress release

The two ender COVID-19 tests received the FDA notification, marking the entry of the Swiss company into the US market. With the continued surge of COVID-19 cases in the US, the American subsidiary of ender diagnostics, ENDER DIAGNOSTICS NORTH AMERICA, is ready to deliver rapid and reliable COVID-19 testing kits to diagnostic laboratories wishing to increase their testing capacities. The company is proud to be actively contributing to successfully manage the pandemic. The ender products are highly accurate and fast, allowing laboratories to increase their throughput significantly. ender LAB and ender MASS arein-vitro diagnostic test kits based on a rapid molecular isothermal nucleic acid amplification technology. Both ender LAB and ender MASS are designed for use by laboratory professionals or trained operators on standard real-time PCR devices. For ender LAB, the result is provided within 30 minutes after the extraction of the viral RNA, which makes it significantly faster than typical