Seeking Alpha

Fitch downgrades Siemens

  • Fitch cuts Siemens' (SI -0.5%) IDR and senior unsecured rating to A from A+.
  • The ratings agency cites "a continuing trend of profitability erosion since 2010," margin declines, and "insufficient progress with restructuring measures."
  • Regarding the CEO situation, Fitch wonders how quickly and effectively "targeted change can be made in an organization of SI's size and complexity."
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