LUXEMBOURG–(BUSINESS WIRE)– SES S.A. announced today that Fitch Ratings assigned a Long-Term Issuer Default Rating and senior unsecured rating of ‘BBB’ with a stable outlook. Fitch has also assigned SES’s subordinated hybrid securities a rating of ‘BB+’. The rating, according to Fitch, reflects SES’s leading position in the global satellite sector, strong underlying free cash flow and financial flexibility.
Consistent with the group’s policy to attain, and retain a credit rating from at least two rating agencies, SES has decided to withdraw its ratings from S&P Global, with immediate effect. SES’s financial policy remains unchanged with a commitment to investment grade and an objective of a net debt to Adjusted EBITDA ratio below 3.3x.
The full credit rating report is available on the Fitch Ratings website.
Sandeep Jalan, Chief Financial Officer of SES, commented, “We are delighted to initiate a rating with Fitch, which recognises SES’s strong business profile. We are committed to maintaining a strong balance sheet while continuing to pursue our strategy to grow our footprint and leadership in the global satellite sector.”
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SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world’s only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially-proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world’s leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES’s video network carries 8,400 channels and has an unparalleled reach of over 355 million households, delivering managed media services for both linear and non-linear content. The company is listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com
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