Top News > Orsted – Ørsted discontinues rating engagement with Standard & Poor’s, remains committed to solid investment grade rating

Orsted – Ørsted discontinues rating engagement with Standard & Poor’s, remains committed to solid investment grade rating

July 3, 2026
ORSTED

Following a review of the business and financing needs going forward, Ørsted has, effective as of today, decided to discontinue the rating engagement with Standard & Poor’s Global Ratings.

 

Ørsted continues to be rated by Moody’s (rating: Baa2, negative outlook) and Fitch (rating: BBB, stable outlook). As part of this change, Fitch (Taiwan branch) has assigned Ørsted Wind Power TW Holding A/S and Ørsted A/S a rating of A+(twn), stable outlook.

Ørsted remains committed to a solid investment grade rating and funds from operations (FFO)/net interest-bearing debt (NIBD) above 30%. The FFO/NIBD reported in Q1 2026 quarterly results was approx. 42% and thus comfortably above this target. This decision has no implications for the financial outlook of the company.

 

 

SourceØrsted

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Credit ratings are forward looking opinions about an issuer’s relative creditworthiness. They provide a common and transparent global language for investors to form a view on and compare the relative likelihood of whether an issuer may repay its debts on time and in full. Credit Ratings are just one of many inputs that investors and other market participants can consider as part of their decision-making processes.

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  • AAA
    • Investment Grade:Extremely strong capacity to meet financial commitments
  • AA
    • Investment Grade:Very strong capacity to meet financial commitments
  • A
    • Investment Grade:Strong capacity to meet financial commitments, but somewhat susceptible to economic conditions and changes in circumstances
  • BBB
    • Investment Grade:Adequate capacity to meet financial commitments, but more subject to adverse economic conditions
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    • Speculative Grade :Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions
  • B
    • Speculative Grade :More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments
  • CCC
    • Speculative Grade :Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments
  • CC
    • Speculative Grade :Highly vulnerable; default has not yet occurred, but is expected to be a virtual certainty
  • C
    • Speculative Grade :Currently highly vulnerable to non-payment, and ultimate recovery is expected to be lower than that of higher rated obligations
  • D
    • Speculative Grade :Payment default on a financial commitment or breach of an imputed promise; also used when a bankruptcy petition has been filed

 

 

 

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