Fresenius Medical Care AG & Co. KGaA (“the Company”), the world’s largest provider of Dialysis Products and Services, today reports that Moody's raised the corporate rating of Fresenius Medical Care AG & Co. KGaA from Ba2 to Ba1. The ratings of Fresenius Medical Care debt instruments have also been advanced. The Senior Secured Debt under the $4.6 billion Credit Agreement of Fresenius Medical Care AG & Co. KGaA received a Baa3 Investment Grade Rating. The rating of the Unsecured $500 million Senior Notes 2007-2017 issued by FMC Finance III S.A. with coupon of 6 7/8% has been improved from Ba3 to Ba2. The ratings of the $225 million Senior Subordinated Notes of Fresenius Medical Care Capital Trust IV with a coupon of 7 7/8% and the €300 million Senior Subordinated Notes of Fresenius Medical Care Capital Trust V with a coupon of 7 3/8% were raised from B1 to Ba3. A stable outlook has been assigned to all ratings.

Lawrence A. Rosen, Chief Financial Officer, commented: “With this upgrade Fresenius Medical Care is back to the rating level before the 100% debt-financed acquisition of Renal Care Group took place two years ago. The upgrade is the result of the Company’s financial discipline and our proven ability to reduce leverage significantly over time. It also reflects our position as the leader in the dialysis industry, our good cost control and operating efficiency improvements as well as our continued strong cash flow generation.”