Siemens Gamesa Obtains Investment Grade Rating
- Business & Finance
Siemens Gamesa has obtained an investment grade rating, becoming the first global wind turbine manufacturer to do so.
Standard & Poor’s (S&P) awarded Siemens Gamesa with a BBB long-term credit rating with positive outlook and Moody’s assigned the company a Baa3 outlook stable rating.
According to Siemens Gamesa, both agencies underscored the company’s leading position based on its diversification, technological strength and financial policy.
S&P is said to have emphasized the company’s conservative financial management and transparent financial policy, with a strong balance sheet, which enable it to preserve strong credit metrics and liquidity.
Moody’s stated that the rating is primarily supported by the company’s leading market position, its high revenue visibility, the technological edge over competitors, as well as the related and growing service activities, good regional diversification and moderate financial leverage.
“We are very proud to have achieved an investment grade rating from two agencies of the calibre of Standard & Poor’s and Moody’s,” said David Mesonero, Chief Financial Officer of Siemens Gamesa.
“This is a significant milestone for Siemens Gamesa and a recognition of our achievements. The ratings confirm our financial and industrial strength and will enable us to continue diversifying and optimising our funding sources.”