IFCO SYSTEMS announces that Standard & Poor's has raised the debt rating for IFCO SYSTEMS by two notches from B to BB-.
IFCO SYSTEMS also announces that it has mandated Deutsche Bank AG as Underwriter for the extension of the EUR 44.0 million Working Capital Facility for another 3 years with improved terms.
IFCO SYSTEMS is an international logistics service provider with more than 180 locations worldwide. IFCO SYSTEMS operates a pool of more than 77 million Reusable Plastic Containers (RPCs) globally, which are used primarily to transport fresh produce from producers to leading grocery retailers. In the United States, IFCO SYSTEMS also provides a national network of pallet management services. With more than 100 million sorted, repaired and reissued wooden pallets annually, IFCO SYSTEMS is the market leader in this industry. In 2006, IFCO SYSTEMS generated revenues of US $647 million.