SES Acknowledges Fitch's Rating Action and Reiterates Deleveraging Plan
MWN-AI** Summary
SES S.A., a prominent space solutions company, acknowledges Fitch Ratings' recent credit rating action, reaffirming its investment-grade rating with a stable outlook. This decision comes in the wake of SES's Q3 2025 results and updates regarding the integration of Intelsat, which SES acquired. The company emphasizes its commitment to a strategic plan aimed at improving key credit metrics while executing its deleveraging strategy.
Management reiterated the importance of carefully deploying available cash-generating avenues to support and expedite the deleveraging process. SES aims to reduce its adjusted net leverage to a target of 3.0x or lower, which is defined as adjusted net debt divided by adjusted EBITDA. This calculation factors in various components, including current and non-current borrowings minus cash equivalents and adjustments related to financial instruments categorized as hybrid bonds and perpetual bonds.
The company views its strategy as essential not only to meet its financial objectives but also to maintain investor confidence as it progresses. SES's robust portfolio of integrated multi-orbit satellites, along with its global terrestrial network, positions it to provide resilient connectivity and high-quality video content, reinforcing its reputation in the telecommunications landscape.
Headquartered in Luxembourg and publicly traded on the Paris and Luxembourg stock exchanges, SES underscores its technological leadership, enhanced by the recent acquisition of Intelsat, which bolsters its market presence with over 100 years of combined experience.
While SES remains optimistic about its strategy and performance, it also recognizes the inherent uncertainties and risks associated with the telecommunications sector, such as competition, technological advancements, and operational challenges. As such, the management contemplates potential variances from projected outcomes and refrains from making absolute predictions regarding future results. For further communication, SES has made its investor relations and communications teams readily available for inquiries.
MWN-AI** Analysis
SES S.A.'s recent acknowledgment of Fitch's credit rating action, which reinforced its investment-grade standing, presents a favorable outlook for investors amid its ongoing integration and deleveraging strategy. The company's commitment to reducing its adjusted net leverage to at least 3.0x reflects a disciplined approach to financial management that should provide some reassurance to stakeholders.
The stable outlook from Fitch suggests a balanced risk profile, which can be beneficial for attracting long-term investment interest in the current economic climate. SES’s strategic use of cash-generating levers indicates a proactive stance in supporting its deleveraging objectives. Given its recent acquisition of Intelsat and the historical capability of SES to innovate within the space sector, there lies potential for improved operational efficiencies and revenue growth.
Investors should consider SES’s ability to manage its near-term debts while also investing in future growth. The delicate balance between maintaining financial health and pursuing lucrative growth opportunities, particularly in the aerospace and telecommunication sectors, may provide avenues for upside potential in SES’s stock price.
However, investors should remain cautious. There are inherent risks associated with the telecommunications market, including heightened competition and rapid technological advancements that could disrupt business models. Additionally, the company's heavy reliance on specific projects, like the U.S. C-band spectrum repurposing, introduces further uncertainties.
In conclusion, SES’s adherence to its deleveraging plan coupled with a stable credit rating enhances its attractiveness. A strategic approach to managing its integrated services and maintaining a healthy financial structure should create favorable conditions for potential upside, making SES a stock worthy of consideration for those looking to invest in the evolving space solutions market.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
SES S.A. (“SES” or the “Company”), a leading space solutions company, acknowledges the credit rating action announced by Fitch today, which follows the release of SES’ Q3 2025 results and Intelsat integration update. SES continues to be rated investment grade by Fitch with a stable outlook.
SES management reiterates that the Company continues to execute on its strategy with a clear plan to strengthen its key credit metrics over time. The Company also has a clear view of the multiple cash generating levers available to it that it believes can substantially support and accelerate the deleveraging plan. SES management will use these levers in a disciplined way and keep investors informed as they deliver on the strategic plan. Consistent with this plan, it remains management’s intention to delever, with a policy objective of reducing adjusted net leverage (1) to at least 3.0x or below.
(1) Adjusted net leverage is defined as Adjusted Net Debt divided by Adjusted EBITDA. Adjusted Net Debt is defined as current and non-current borrowings (including lease liabilities) less cash and cash equivalents (excluding amounts subject to contractual restrictions) and excluding 50% of the Hybrid Bond (classified as borrowing) and including 50% of the Perpetual Bond (classified as equity). Adjusted EBITDA is defined as EBITDA adjusted to exclude significant special items of a non-recurring nature. The primary such items are the net impact of U.S. C-band spectrum repurposing, other income, restructuring charges, costs associated with the development and/or implementation of merger and acquisition activities (“M&A”), specific business taxes and one-off regulatory charges arising outside ongoing operations.
Follow us on:
LinkedIn | Facebook | YouTube | X | Instagram
About SES
At SES, we believe that space has the power to make a difference. That’s why we design space solutions that help governments protect, businesses grow, and people stay connected—no matter where they are. With integrated multi-orbit satellites and our global terrestrial network, we deliver resilient, seamless connectivity and the highest quality video content to those shaping what’s next. Following our Intelsat acquisition, we now offer more than 100 years of combined global industry leadership—backed by a track record of bringing innovation “firsts” to market. As a trusted partner to customers and the global space ecosystem, SES is driving impact that goes far beyond coverage. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com
Forward-looking Statements
This press release contains, and our officers and representatives may from time to time make, certain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “estimate,” “expect,” “intend,” “likely,” “believe,” “will,” and similar expressions or their negative. Examples of forward-looking statements include, among others, statements we make regarding performance and strategy execution.
Forward-looking statements are not assurances of future performance and are subject to inherent uncertainties and risks that are difficult to predict such as: high level of competition in the telecommunications industry; changes in technology or markets could make our systems obsolete or subject to reduced or lower demand; commercial performance of satellites may be impaired by in-orbit destruction, damage or other failures or degradations in performance; business disruptions due to failure of information systems, satellite control and operations networks, and other technology as a result of unauthorized access, misappropriation of data, malfeasance, or otherwise; and external growth opportunities or contracts may not yield the expected benefits.
Other factors that might cause such a difference include those discussed in our filings with the US Securities and Exchange Commission, including our Form F-4. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260126279599/en/
For further information please contact:
Christian Kern
Investor Relations
Tel: +352 710 725 7787
christian.kern@ses.com
Steven Lott
Communications
Tel. +352 710 725 500
SES.Press@ses.com
FAQ**
How does the recent credit rating action impact SES S.A.’s strategic plans, particularly in relation to the Sprott ESG Gold ETF SESG and potential investor perceptions of its investment grade status?
What specific cash-generating levers does SES management plan to utilize to support its deleveraging policy objective in the context of the Sprott ESG Gold ETF SESG?
Can SES S.A. elaborate on how the integration of Intelsat will enhance its financial metrics, especially regarding its commitment to the Sprott ESG Gold ETF SESG?
What risks or uncertainties does SES foresee that could affect its strategy and outlook, particularly in connection with the Sprott ESG Gold ETF SESG performance?
**MWN-AI FAQ is based on asking OpenAI questions about Ses Global Sa Fid Dep Shs (OTC: SGBAF).
NASDAQ: SGBAF
SGBAF Trading
1.88% G/L:
$7.315 Last:
2,300 Volume:
$7.22 Open:
