Fitch Upgrades Eutelsat After EUR1.5 Billion Capital Raising

11:49 PM EST, 12/03/2025 (MT Newswires) -- Fitch Ratings upgraded the long-term issuer default rating of Eutelsat Communications (ETL.PA) to BB from B, citing the company's capital raising of 1.5 billion euros. In a Wednesday note, the rating agency said it removed the French satellite operator's ratings from rating watch positive, on the back of the capital raise, which comprised an 828 million-euro capital contribution from key shareholders and a rights issuance of 670 million euros. The outlook on the new rating is stable, reflecting expectations that the company's net leverage will remain below 4x.