Siemens Gamesa has been assigned a BBB long-term credit rating with stable outlook by Fitch.
The agency attributes the rating to Siemens Gamesa’s consolidated leading position in the wind industry, with the necessary technical capabilities and scale to compete globally in an industry that is concentrated, volatile and highly competitive.
The rating follows those assigned by Standard & Poor’s (BBB-) and Moody’s (Baa3).
Fitch also noted the turbine supplier’s geographical and industrial diversification, which enable it to be close to customers in core markets while also enhancing logistics and operational costs.
The rating agency also referred to the company’s solid financial profile, in line with an investment grade rating within the capital goods sector.
Siemens Gamesa chief financial officer David Mesonero said: “We are the first producer of wind generators to have a credit rating from all the big three agencies.
“This further underscores our sound financial position and leading status in the industry.”