Nextpower Receives Investment Grade Credit Rating from Fitch

FREMONT, Calif.--(BUSINESS WIRE)--Nextpower (Nasdaq: NXT, formerly Nextracker), a leading provider of intelligent power generation systems for solar power plants, announced today that Fitch Ratings (“Fitch”) has issued inaugural investment grade credit ratings for the company.

Fitch has assigned a Long-Term Issuer Default Rating of BBB- to the Company with a Stable outlook.

“Achieving an investment grade credit rating is an important milestone for Nextpower and reflects the strength of our business model, consistent cash flow generation, and disciplined financial management,” said Chuck Boynton, chief financial officer of Nextpower. “This milestone reinforces our confidence in the durability of the business and our ability to execute our long-term strategy.”

About Nextpower

Nextpower™ (Nasdaq: NXT, formerly Nextracker) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com.