...Downer EDI Limited's Long-Term Issuer Default Rating (IDR) reflects its robust financial profile, including an improved earnings profile, strong cash conversion and EBITDA net leverage of 0.4x at the end of the financial year to 30 June 2026 (FYE26). Downer's business profile continues to be supported by its leading market position and relationships with governments in Australia and New Zealand, demonstrated by work-in-hand exceeding AUD38 billion at FYE26. Fitch Ratings expects Downer's profitability to continue improving as it maintains cost and tender discipline. This supports its commitment to a strong balance sheet and financial metrics that remain well within the rating sensitivities as reflected in the Stable Outlook. ...
