Downer EDI's AU$400 Million Senior Unsecured Notes Receive 'BBB' Rating From Fitch

MT Newswires Live

04/24

Downer EDI (ASX:DOW, NZE:DOW) received a "BBB" rating on its AU$400 million in 6.488% senior unsecured notes due April 2033, according to a Friday note from the credit ratings agency.

Fitch said the key rating drivers include Downer's limited exposure to Middle-East conflict-driven cost pressure, restored free cash flow generation, and its expectation that the company's margin recovery will continue, among other drivers.

The key rating-case assumptions include Fitch-defined revenue falling by around 5% in fiscal 2026 following the sale of non-core businesses, before rising by an average of 3% a year from fiscal 2027 to fiscal 2029.

Downer EDI's Australian shares fell 1% in recent Friday trade.

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