S&P Global Ratings has upgraded the long-term and short-term credit ratings of the ACS Group and its core subsidiaries HOCHTIEF, CIMIC, and Dragados to “BBB/A-2” from “BBB-/A-3”, with a stable outlook. The rating agency is, thus, recognizing the Group’s strong operational performance, a disciplined financial approach, and its clear strategy.
According to S&P, the Group is benefiting from positive trends such as digitalization, sustainable mobility, defense, nuclear energy, and critical minerals. The rating agency views HOCHTIEF as an important driver for ACS’ growth. It points to Turner’s strong market position in high-growth sectors such as data centers, biopharma, sports, and defense infrastructure. The performance of the Engineering and Construction segment is expected to be supported by healthy infrastructure markets. In Germany, HOCHTIEF is also well-positioned to benefit from the government’s infrastructure and defense plan.
The stable outlook reflects the expectation that the ACS Group and its core subsidiaries will continue to maintain a strong operational performance and a disciplined approach towards investment. For HOCHTIEF, the rating upgrade acknowledges the strength and diversity of its business model, strong business fundamentals, and the successful implementation of its growth strategy.
