AI Terminal
Compagnie Générale des Etablissements Michelin
Regulatory Filings • Apr 1, 2025
1526_iss_2025-04-01_441e8586-7b28-48da-bd69-920d4234ceea.pdf
Regulatory Filings
Open in ViewerOpens in native device viewer
Clermont-Ferrand, April 1, 2025
COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN
Standard & Poor's upgrades Michelin's Long-Term rating by one notch to 'A', with a Stable outlook
On March 31, 2025, Standard & Poor's has upgraded Michelin's (Compagnie Générale des Etablissements Michelin and its main financial subsidiaries) Long-Term Issuer Default Rating (IDR) rating from 'A-' to 'A', with a Stable outlook.
The agency "anticipates that Michelin will continue to maintain a very strong balance sheet in 2025 and 2026, supported by strong and resilient profitability and solid free operating cash flow" and that "Michelin's credit metrics would likely remain resilient in a scenario of prolonged tariff implementation" thanks to it "relatively high degree of local production in the U.S. (…), as well as its track record of passing through higher costs".
Standard & Poor's announcement comes after the recent upgrades of Long-Term ratings by Fitch (from 'A-' to 'A' with a Stable outlook, in February 2025) and by Moody's (from 'A3' to 'A2' with a Stable outlook in July 2024 – unsolicited rating), and the initial rating by Scope Ratings ('A' with a Stable outlook, in July 2024).
Contact details
Investor Relations
Guillaume Jullienne [email protected]
Flavien Huet [email protected]
Benjamin Marcus [email protected]
Media Relations
+33 (0) 1 45 66 22 22 [email protected]
Individual Shareholders
+33 (0) 4 73 32 23 05
Muriel Combris-Battut [email protected]
Elisabete Antunes [email protected]