Fitch affirms Siemens

Fitch Ratings said it affirmed Siemens AG's ratings at senior unsecured AA- and short-term F1+.

The outlook is stable.

The ratings are driven by Siemens' strong financial and healthy business profiles, particularly those of the industrial operations, Fitch noted.

Siemens has leading market positions in many industry segments, a high level of product, sector and geographic diversification, which helps to mitigate industry cyclicality, and a strong track record of innovation, the agency noted.

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