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Bonds & Rating
Bonds
Bonds are the traditional way to obtain long-term financing via the capital market. Siemens reserves the right to continue to make regular appearances on the world's capital markets and diversify its investor base. The following table summarizes the Siemens bonds currently outstanding.
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Rating
Credit ratings are opinions of future creditworthiness, derived by fundamental credit analysis and expressed through a symbol system. Fundamental credit analysis incorporates an evaluation of market position, competition, management assessment and financial statement assessment. Credit analysis consists of opinion forecasts about the probability that an obligor will make promised payments (principal and interest). It seeks to predict the credit performance of bonds, other financial instruments, or firms across a range of plausible economic scenarios some of which will include credit stress.
Rating agency | Long term | Short term | Outlook | Last update of rating | Latest reports |
|---|---|---|---|---|---|
Moody's Investors Service | Aa3 | P-1 | stable | Jun 2023 | Issuer comment (as of Nov, 13, 2025) |
Standard & Poor's | AA- | A-1+ | stable | Feb 2024 | Research Update (as of Nov. 14, 2025) |
Rating History
Siemens is rated by Moody's Investors Service and Standard & Poor's since 1995. The rating is updated on a regular basis. The following schedule illustrates the development of Siemens' rating since initiating coverage.
Moody's Rating History
Rating action | Long term | Outlook | Short term |
|---|---|---|---|
Since June 2023 | Aa3 | stable | P-1 |
July 2021 | A1 | stable | P-1 |
August 2020 | A1 | negative | P-1 |
February 2015 | A1 | stable | P-1 |
May 2013 | Aa3 | negative | P-1 |
June 2012 | Aa3 | stable | P-1 |
September 2011 | A1 | positive | P-1 |
November 2007 | A1 | stable | P-1 |
June 2006 | Aa3 | negative | P-1 |
January 2004 | Aa3 | stable | P-1 |
December 2002 | Aa3 | negative | P-1 |
January 1999 | Aa3 | stable | P-1 |
January 1998 | Aa1 | negative | P-1 |
July 1997 | Aa1 | stable | P-1 |
December 1995 | Aaa | stable | P-1 |
S&P Rating History
Rating Action | Long Term | Outlook | Short Term |
|---|---|---|---|
since February 2024 | AA - | stable | A - 1+ |
April 2021 | A+ | stable | A - 1+ |
August 2020 | A+ | negative | A - 1+ |
November 2012 | A+ | stable | A - 1+ |
February 2012 | A+ | positive | A - 1+ |
June 2009 | A+ | stable | A - 1 |
June 2007 | AA - | negative | A - 1+ |
April 2007 | AA - | negative watch | A - 1+ |
December 2006 | AA - | negative | A - 1+ |
June 2006 | AA - | negative watch | A - 1+ |
February 2002 | AA - | stable | A - 1+ |
July 1998 | AA | negative | A - 1+ |
March 1998 | AA + | stable | A - 1+ |