Based on the recently published results with a high loss in the third Quarter of 2011, Creditreform Rating AG downgraded the rating down from BBB to BB+. The new assessment BB+ simultaneously underlines that the Company is still in a good financial position and that the fundamental prospects, in spite of the current market weakness in the PV sector, still vote for Payom Solar AG. The new rating will be published parallel at Stuttgart stock exchange, Creditreform Rating AG and on Payom Solar AG’s website.