Michelin's Long-Term Rating Upgraded by Standard & Poor's

On March 31, 2025, Standard & Poor's upgraded Michelin's Long-Term Issuer Default Rating from 'A-' to 'A', with a stable outlook. This reflects confidence in Michelin's robust financial structure and strong profitability projections for 2025 and 2026. The agency highlighted Michelin's ability to maintain resilient credit metrics amid potential prolonged tariff scenarios, supported by its significant local production in the U.S. and effective management of increased costs.

This upgrade follows similar positive actions by other major agencies. In February 2025, Fitch upgraded Michelin from 'A-' to 'A' with a stable outlook. Previously, Moody's had increased its rating from 'A3' to 'A2' in July 2024, and Scope Ratings assigned an 'A' rating with a stable outlook the same month.