Ratings agency Standard & Poor’s has upgraded wind turbine manufacturer Siemens Gamesa to align its rating with that of its new parent Siemens Energy (SE), which had its stock market debut in Frankfurt on Monday after being spun off from industrial conglomerate Siemens AG.

S&P Global Ratings assigned a BBB issuer credit rating with a stable outlook to Siemens Gamesa, up from a BBB- rating with a positive outlook. Siemens Energy owns 67.1% of Siemens Gamesa.

“Siemens Gamesa Renewable Energy (SGRE), which generated €10.2bn