Diebold Nixdorf Receives Credit Rating Upgrade with Positive Outlook

NORTH CANTON, Ohio, Oct. 16, 2024 /PRNewswire/ -- 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."

About Diebold Nixdorf

Diebold Nixdorf, Incorporated (NYSE:DBD) automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world's top 100 financial institutions and top 25 global retailers, our integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 21,000 employees worldwide. Visit www.DieboldNixdorf.com for more information.

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Forward-Looking Statements

This press release may contain forward-looking statements that are not historical information and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. Statements can generally be identified as forward looking because they include words such as "believes," "anticipates," "expects," "intends," "plans," "will," "estimates," "potential," "target," "predict," "project," "seek," and variations thereof or "could," "should" or words of similar meaning. Statements that describe the Company's future plans, objectives or goals are also forward-looking statements, which reflect the current views of the Company with respect to future events and are subject to assumptions, risks and uncertainties that could cause actual results to differ materially. Although the Company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, the economy, its knowledge of its business, and key performance indicators that impact the Company, these forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on March 8, 2024, and the Company's most recent Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, as filed with the SEC on August 7, 2024. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to update these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.

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SOURCE Diebold Nixdorf, Incorporated