Global OEM giant Vestas said it would be able to widen and strengthen its funding structure, after getting a first-time Baa1 long-term issuer credit rating with stable outlook from Moody’s that reflected growth expectations for the Danish group and wider wind market.
The financial ratings agency cited Vestas' leading market and technology positions in the turbine sector – including gradual expansion in the “younger and faster growing offshore wind market” following its acquisition of 100% of the former MHI Vestas joint venture, plus “robust cash generation ability, a conservative financial policy reflected in a low financial leverage and a strong liquidity profile”.
