Member access

4-Traders Homepage  >  Shares  >  Euronext Paris  >  MICHELIN    ML   FR0000121261

MICHELIN (ML)

1752
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

MICHELIN : Moody's Upgrades Michelin to Baa1

04/24/2012 | 10:35am US/Eastern
Recommend:
0

PRESS RELEASE
Clermont-Ferrand - April 24, 2012

COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN

Moody's Upgrades Michelin to Baa1

Moody's has upgraded Michelin's long-term credit rating to Baa1 from Baa2, with a stable outlook, while affirming its P-2 short-term rating.

According to the Moody's press release: "The upgrade reflects Michelin's continuous improvement in its financial metrics over the last several quarters - including a capital increase in 2010 - to levels that solidly position the company in the Baa1 rating category as well as Moody's confidence that Michelin will be able to sustain these metrics over the next years despite economic weakness in major European countries and rising raw materials".

The agency also emphasized the strength of the MICHELIN brand, the Group's solid competitive position, its ranking as one of the three leading global tire manufacturers and its consistently higher profit margins than many other auto suppliers and auto manufacturers.

Following on from the Standard & Poor's upgrade in March, the Moody's rerating further confirms Michelin's sustained performance improvement dynamic and the validity of its strategic vision.

Investor Relations

Valérie Magloire
+33 (0) 1 78 76 45 37
+33 (0) 6 76 21 88 12 (cell)
valerie.magloire@fr.michelin.com

Alban de Saint Martin
+33 (0) 4 73 32 18 02
+33 (0) 6 07 15 39 71 (cell)
alban.de-saint-martin@fr.michelin.com:
mailto:alban.de-saint-martin@fr.michelin.com
Media relations

Corinne Meutey
         +33 (0) 1 78 76 45 27
         +33 (0) 6 08 00 13 85 (cell)
corinne.meutey@fr.michelin.com:
mailto:corinne.meutey@fr.michelin.com

Individual Shareholders
Jacques Engasser
         +33 (0) 4 73 98 59 08
jacques.engasser@fr.michelin.com

CP Moody's PDF:
http://hugin.info/100285/R/1605524/508496.pdf



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Michelin via Thomson Reuters ONE

HUG#1605524
Recommend :
0
React to this article
Latest news on MICHELIN
1h ago MICHELIN : Tres bien, c'est fait maison
6h ago MICHELIN : Jamie cooks up a new movie ; Star joins A-list cast in kitchen film
1d ago MICHELIN : A real feast for foragers ; Top chef Will Brown goes wild about food ..
2d ago MICHELIN : Meaty parts ; Based on the bestseller by Richard C.Morais, the film l..
3d ago MICHELIN : Alsace on a plate
5d ago MICHELIN : Travel: Classy with a chance of meatballs: Dining out in Stockholm ca..
5d ago MICHELIN : G2: Indian summer: Gymkhana, a London restaurant based on the Anglo-I..
7d ago MICHELIN : starred chef James Close of the Raby Hunt (You can create your own ta..
7d ago MICHELIN : launches European treasure hunt, 5 weeks to find the roadster fitted ..
7d ago MICHELIN : and Carlsson, United in Excellence
Advertisement
Chart
Duration : Period :
MICHELIN Technical Analysis Chart | ML | FR0000121261 | 4-Traders
Income Statement Evolution
MICHELIN : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF