Mannheim, Germany. S&P Global Ratings, one of the leading rating agencies for the financial markets, today upgraded the issuer rating of international industrial services provider Bilfinger by one notch to BBB- with stable outlook. Bilfinger SE last held an investment grade rating 10 years ago. The current rating reflects Bilfinger's improved profitability and solid free cash flow generation.
“We are very pleased about the new rating and see it as confirmation of the successful implementation of our strategy. After ten years, Bilfinger is returning to the ranks of investment-grade companies. This will allow us to raise dept capital more easily and on significantly better terms,” said Matti Jäkel, Bilfinger Group CFO.
In their report, S&P highlights Bilfinger’s sustained margin improvement and the solid free cash flow generation, among others. According to S&P, the stable outlook reflects their expectation of a continued strong balance sheet.
S&P assesses the creditworthiness of companies and assigns investment grade ratings to those with high credit quality. The rating agency had already given Bilfinger a positive outlook in 2024. With the upgrade to investment grade, Bilfinger is now achieving a key target of its financial policy.
