Spie has announced that Fitch Ratings has upgraded its long-term credit rating to Investment Grade status at 'BBB-', with a stable outlook, up from 'BB+' previously.
This upgrade to Investment Grade reflects the strengthening of Spie's credit profile, underpinned by robust cash flow generation, solid earnings growth, and disciplined leverage, according to the multi-technical services group.
The rating action also takes into account the group's increased scale and the continuous improvement in profitability, driven by pricing discipline, heightened selectivity, and operational excellence, all supported by a targeted acquisition strategy.
This new Investment Grade rating is expected to bolster Spie's access to capital markets and improve its financing conditions, supporting the group's long-term strategy and value creation.
SPIE SA specializes in providing multi-technical services in the electrical, mechanical and climatic engineering, communication systems fields as well as specialized service related to energy. The group ensures the design, implementation, operation and maintenance of energy saving and environmentally friendly facilities.
Net sales are distributed geographically as follows: France (32.3%), Germany (34.5%), the Netherlands (16.7%) and other (16.5%).
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