Viridien - Upgraded to “B” by S&P
Rhea-AI Summary
Viridien (NYSE:CGG) announced that Standard & Poor’s upgraded its long-term credit rating to “B” with a stable outlook on April 8, 2026, from “B-” with a positive outlook. The rating on the company’s senior secured notes was raised to “B+” from “B”.
This upgrade follows Moody’s confirmation at “B2” with a stable outlook and Fitch’s December confirmation at “B” with a stable outlook, and reflects improved operational execution, cost control, and the end of the Shearwater contract in 2025.
Positive
- S&P upgrade to B with stable outlook
- Senior secured notes raised to B+ from B
- Moody’s confirmation at B2 with stable outlook
- Fitch confirmation at B with stable outlook
- End of Shearwater contract reduced costly exposure in 2025
- Management focus on deleveraging and cost control
Negative
- None.
Key Figures
Market Reality Check
Market Pulse Summary
This announcement highlighted an upgrade of Viridien’s long-term credit rating by S&P from B- to B, with a stable outlook, and a higher rating on its senior secured notes. The agencies pointed to improved operational stability, benefits from the end of a costly contract in 2025, and focus on higher-value projects. Investors may monitor ongoing deleveraging, cash generation, and adherence to disciplined capital allocation as key indicators of sustained credit strength.
Key Terms
credit rating financial
senior secured notes financial
AI-generated analysis. Not financial advice.
Paris (France), April 8, 2026
Viridien upgraded to “B” by S&P,
following rating confirmations by Moody’s and Fitch
Viridien announces today that Standard & Poor’s (S&P) has upgraded its long-term credit rating to “B”, with a stable outlook, reflecting the Company’s solid operational execution. The previous rating was “B-” with a positive outlook. In parallel, the rating on the Company’s senior secured notes has been raised to “B+”, from “B” previously.
S&P highlighted that “the company has built a positive track record of more stable performance over the past couple of years in a volatile market environment, benefiting from the end of the costly Shearwater contract in 2025, as well as a focus on cost control and higher-value projects.”
This upgrade follows the recent confirmation of Viridien’s corporate rating by Moody’s at “B2” with a stable outlook, which maintained its assessment of the Group’s credit profile while highlighting the increased resilience of its business model and the relevance of its strategy.
Last December, Fitch Ratings had confirmed its rating at “B” with a stable outlook, emphasizing the Company’s improved financial and operational profile.
Jérôme Serve, CFO of Viridien: “We welcome S&P’s upgrade, which reflects the successful execution of our financial roadmap over the past two years, as well as our rigorous and consistent approach to balance sheet deleveraging. We remain firmly focused on further strengthening our financial profile, sustaining strong operating performance and cash generation, and maintaining a disciplined capital allocation policy, in support of value creation for our shareholders”.
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About Viridien
Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).
Investors contact
VP Investor Relations and Corporate Finance
Alexandre Leroy
alexandre.leroy@viridiengroup.com
+33 6 85 18 44 31
Media contact
Brunswick
Aurélia de Lapeyrouse - +33 6 21 06 40 33
Hugues Boëton - +33 6 79 99 27 15
Tristan Roquet Montégon - +33 6 37 00 52 57
viridien@brunswickgroup.com
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