Creditreform Rating has confirmed the unsolicited corporate issuer rating of Adolf Würth GmbH & Co. KG at A. The outlook was raised from negative to stable. In our opinion, based on the well diversified, established and leading global market position as well as solid financial figures, the Würth group has sufficient substance and flexibility to assert itself in difficult markets and periods of crisis. The latter could be seen in the COVID-19-induced crisis. Consequently, the group has a good access to the capital market, which allows it to consolidate and expand its market position in the medium- and long-term. Our rating assessement is based on the assumption that the Würth group will be able to maintain the market leadership in its industry in the coming years, despite increased competition and elevated sensitivity to economic cycles. During the financial years 2020 and 2021, the company was able to overall strengthen its market position and solid financial figures and improve its liquidity situation, despite the COVID-19 crisis. As far as we can assess, the effective cost and inventory controlling as well as the digitalization efforts carried out so far contributed to the stabilization of the group.