Financial debt, maturities and liquidity as of June 30, 2015

Maturity Profile (CHF million)

Details of bonds and private placements as at 31 December 2014

 

Liquidity summary

  • Cash + marketable securities: CHF 2,225 million 
  • Cash + marketable securities + unused committed credit lines: CHF 5,286 million


Debt summary

  • Current financial liabilities*: CHF 2,422 million
  • Fixed to floating ratio: 52% to 48%
  • Capital markets: 72%; Loans: 28%
  • Corporate vs. subsidiary debt: 77% to 23%
  • Ø total maturity: 4.9 years (YE 2014: 5.2 years)
  • CP borrowings: CHF 324 million
  • No financial covenants in Corporate credit lines

  • Average cost of financing: 4.6% (YE 2014: 4.7%)


* After risk-related adjustments of CHF 717 million from current financial liabilities to long-term financial liabilities.

 

ST/LT ratings summary as of July 14, 2015

  • S&P Credit Rating: A-2 / BBB, outlook stable

  • Fitch Credit Rating: F2 / BBB, outlook stable

  • Moody’s Credit Rating: P-2 / Baa2, outlook negative