Revised Ratings Reflect Strength of Business Performance and Improved Market Outlook
CRANBERRY TOWNSHIP, Pa., Nov. 27, 2023 – Westinghouse Electric Company announced upgraded credit ratings from Moody’s Investors Service and Fitch Ratings and revised Positive Outlook from S&P Global.
The credit agencies cited Westinghouse’s strong competitive position, growing book of customer orders, EBITDA performance and favorable industry tailwinds in raising their ratings. Moody’s upgraded the company’s corporate family rating from B2 to B1. Fitch Ratings upgraded the company’s Issuer Default Ratings from B to B+. S&P Global Ratings affirmed its B issuer credit for Westinghouse and revised the outlook from stable to positive.
“We are pleased that the rating agencies have recognized the strength of our business and the viability of our long-term growth strategy. Taken together, these upgrades reflect Westinghouse’s competitive market position, strong financial performance and execution,” said Shravan Chopra, Chief Financial Officer.