Moody's Downgrades SES to Non-investment Grade Corporate Family Rating

11:41 PM EST, 12/17/2025 (MT Newswires) -- Moody's on Wednesday replaced the Baa3 long-term issuer rating of SES (SESG.PA) with a Ba1 long-term corporate family rating, citing the company's weak credit position. The rating agency said its action is in line with its "practice for corporates with non-investment grade ratings." Moody's highlighted the materially weaker pro forma results of the Luxembourg-based space solutions company in the first nine months of 2025 and the consolidation of satellite communications provider Intelsat. Moody's also changed its outlook on SES to stable from negative, reflecting expectations that the company will reduce its debt and stabilize its operating performance through 2027.