Initiation rating from Scope Ratings and upgrade from Moody’s Ratings

On July 12, 2024, the European rating agency Scope Ratings published a solicited rating report on Michelin.

On July 12, 2024, the European rating agency Scope Ratings published a solicited rating report on Michelin (Compagnie Générale des Etablissements Michelin and its main financial subsidiaries): long-term rating of A with a Stable outlook and short-term rating of S-1. “The issuer rating reflects Michelin’s strong business risk profile as a leading global tyre manufacturer and an even stronger financial risk profile, supported by low leverage” Scope mentioned in its press release. The agency’s rating report is available at  www.scoperatings.com

On July 11, 2024, Moody’s upgraded Michelin long-term rating to A2 with a Stable Outlook, from A3 with a Stable outlook, “reflecting the group’s track record of robust operating performance, stable leading position in the global (premium) tire market and growing presence in profitable non-tire-related areas”. Moody’s rating is unsolicited.

About Michelin

Michelin is a world-leading manufacturer of life-changing composites and experiences. Pioneering materials science over more than 130 years, Michelin is uniquely positioned to make decisive contributions to human progress and a more sustainable world.

Drawing on technological leadership in polymer composites, Michelin is constantly innovating to manufacture high-quality tires and components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies, and healthcare.

The care we put into our products and our intimate knowledge of consumer habits enable Michelin to offer its customers exceptional experiences, whether in terms of connected solutions and artificial intelligence for professional fleets, or for discovering the outstanding restaurants and hotels that the MICHELIN Guide recommends.

Don't miss anything!

Spokespersons

Discover the Group's spokespersons

Click here