We have assigned a new management and governance (M&G) assessment of moderately negative to Siemens Energy. The assignment of the M&G assessment follows the Jan. 7, 2024, publication of S&P Global Ratings' revised criteria for evaluating the credit risks presented by an entity's M&G framework (see "Management And Governance Credit Factors For Corporate Entities," published Jan. 7, 2024). Our ratings on Siemens Energy, including our 'BBB-/A-3' long- and short-term issuer credit ratings, remain unchanged following the assignment of the new M&G assessment. S&P Global Ratings today assigned a new M&G modifier assessment of moderately negative to Siemens Energy. The action follows the revision to our criteria for evaluating the credit risks presented by an entity's M&G framework. The terms management
