PRESS RELASE _
S&P GLOBAL RATINGS REVIEWS NEXANS OUTLOOK FROM NEGATIVE TO POSITIVE ON ‘BB’ LONG-TERM RATING
Paris, February 17, 2021 –Nexans announces today that S&P Global Ratings reviewed its outlook from negative to positive and confirmed its ‘BB/B’ rating.
S&P Global Ratings mentioned: “a solid credit profile in 2020 with a significant buffer and significantly better ratios than we forecast in our previous review.”
Jean-Christophe Juillard, Nexans’ Chief Financial Officer, stated: “This is a true recognition of the transformation and work undertaken by the Company since 2019, and a proof that Nexans is on the right track. A recognition by our investors, and now by our credit rating agency. Nexans is ready for its next strategic step to be unveiled at its Capital Markets Day.”
Nexans is a key driver for the world’s transition to a more connected and sustainable energy future. For over 120 years, the Group has brought energy to life by providing customers with advanced cable technologies for power and data transmission. Today, Nexans goes beyond cables to offer customers a complete service that leverages digital technology to maximize the performance and efficiency of their critical assets. The Group designs solutions and services along the entire value chain in three main business areas: Building & Territories (including utilities and e-mobility), High Voltage & Projects (covering offshore wind farms, subsea interconnections, land high voltage), and Industry & Solutions (including renewables, transportation, oil and gas, automation, and others).
Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans was the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables also drives its active involvement within leading industry associations, including Europacable, the NEMA, ICF and CIGRE.
Nexans employs nearly 25,000 people with an industrial footprint in 38 countries and commercial activities worldwide. In 2020, the Group generated 5.7 billion euros in standard sales.
Nexans is listed on Euronext Paris, compartment A.
For more information, please visit www.nexans.com
Minaa El Baz