Fitch ups Rolls-Royce to high grade

Fitch Ratings said it raised its ratings for Rolls-Royce plc and its senior unsecured notes to BBB- from BB+.

The agency said it revised its forecast for the company after it reported its 2023 results.

“We forecast the EBIT margin to rise to nearly 13% in 2026 from almost 11% in 2023, while we expect the EBITDA margin to be around 16% in 2024 (2023: 15.5%), rising to 17% in 2026. The margin improvement is expected to be driven by higher volumes, cost improvements and efficiencies gained mainly in the civil aerospace and power systems divisions,” Fitch said in a press release.

The outlook is positive.

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