Michelin: Fitch upgrades Michelin’s Long-Term rating by one notch to 'A', with a Stable outlook

Group 1 - Fitch Ratings upgraded Michelin's Long-Term Issuer Default Rating (IDR) from 'A-' to 'A', with a Stable outlook on February 21, 2025 [1] - The upgrade reflects Michelin's strong free cash flow generation despite challenging end-markets and highlights its robust business profile, primarily driven by replacement demand and a diversified footprint [2] - This upgrade follows previous ratings from Scope Ratings and Moody's, which also recognized Michelin's strong credit profile [3]