S&P upgrades Michelin’s credit rating

ERJ staff report (DS)

Paris – Standard & Poor’s has upgraded Michelin’s long-term credit rating to BBB+ from BBB, while affirming its A-2 short-term rating and stable outlook.

According to the Standard & Poor’s press release, the decision reflected the significant improvement in Michelin’s operating performance over the past two years and the strengthening of its balance sheet.

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