Fitch follows S&P in cutting Orsted's outlook
Reuters
Published Nov 03, 2023 11:09
(Reuters) - Rating agency Fitch on Friday downgraded the outlook on Danish renewable energy firm Orsted's rating to negative, a day after S&P warned of a possible debt downgrade due to the company's massive losses on projects in the United States.
Fitch affirmed Orsted's Long-Term Issuer Default Rating (IDR) at 'BBB+'.
The world's largest offshore wind developer on Wednesday said it had halted plans for two U.S. wind farms and that related impairments had surged above $5 billion, sending its share price down 26% to a six-year low.
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Written By: Reuters
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