Fitch Lifts Kier Group Rating on Expectations of Leverage Reduction

11:52 AM EDT, 10/12/2026 (MT Newswires) -- Fitch on Monday upgraded the long-term issuer default rating of Kier Group (KIE.L) to BBB- from BB+, with a stable outlook, amid expectations that its EBITDA leverage will continue declining over the coming years and drop to zero by fiscal 2030. The upgrade also reflects the infrastructure and construction group's robust revenue visibility, among other factors, alongside the rating agency's view that the group is capable of repaying its 250 million pound-sterling bond maturing in fiscal 2029 using cash balances. Meanwhile, the stable outlook mirrors Fitch's expectation that the company will generate positive free cash flow between fiscal years 2027 and 2030.