wind farm repowering
Image credit: Siemens Gamesa

Siemens Gamesa, despite news of holding company Siemens’ intention to sell the majority of its shares in its gas and power businesses to a new energy player, has been assigned a BBB long-term credit rating with stable outlook by international ratings agency Fitch.

Fitch attributes the rating to Siemens Gamesa's consolidated interests and leading position in the wind industry, considering the company to have the necessary technical capabilities and scale to compete internationally in a highly-volatile, concentrated competitive industry.

Standard and Poor has awarded the company with a BBB- rating, whilst Moody’s has issued a Baa3 rating. All three ratings indicate that Siemens Gamesa is investment-worthy in the capital goods sector.

Fitch further noted the company’s industrial and geographical diversification, giving it good proximity to core markets, whilst benefitting logistical and operating costs.

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.”