(Finance) – S&P Global Ratings revised their rating to Pirelli confirming the BBB- investment grade rating and improving the outlook from “stable” to “positive”.
In justifying the upward revision of the outlook, we read in a note, the agency underlined that Pirelli is “well positioned to implement its industrial plan for 2024-2025”, has “solid cost discipline and a strong positioning in High Value tires” which allows the generation of a stable operating cash flow with a consequent reduction in financial leverage.
(Photo: © vladimir razgulyaev / Dreamstime)