The rating agency EthiFinance Ratings has granted GAM a BB+ rating with a stable outlook, along with a BBB rating for its GAM 2025 Sustainability-Linked Fixed Income Program, according to what the company itself has notified to the National Securities Market Commission (CNMV).
According to the executive summary of the report issued by the agency, GAM’s creditworthiness is based on the strength of its business model, in which established competitive advantages and an adequate diversification of revenue sources stand out.
EthiFinance places GAM’s activity within a mature sector but with favorable fundamentals, among which stand out the existence of good profitability margins, low volatility and high barriers to entry, in addition to growth expectations linked to the evolution of the macroeconomic environment.
Likewise, the agency positively values the profile of GAM’s majority shareholder, whose industrial nature and broad financial capacity contribute to supporting the assigned rating.
In its communication to the supervisor, the company has included the executive summary of the report prepared by EthiFinance Ratings, a Spanish agency integrated into the European Association of Rating Agencies, where these ratings are detailed.