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Fitch upgrades Siemens' short-term rating

Fitch Ratings raised Siemens AG's short-term issuer default rating to F1+ from F1 due to the updated rating criteria for short-term ratings.

The rating agency said the upgrade factors in Siemens' "comfortable liquidity underlined by a long maturity profile and sizeable revolving credit facilities."

"The upgrade of the [short-term] ratings is based on our assessment of Siemens's strong financial flexibility and financial structure and an adequate operating environment," Fitch added.

The rating agency also removed the short-term rating from under criteria observation.

Siemens' long-term issuer default rating of A and its stable outlook were unaffected.