Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Euronext Paris  >  Michelin (CGDE)    ML

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

MICHELIN : Moody's Upgrades Michelin to Baa1

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

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
React to this article
Latest news on MICHELIN (CGDE)
08/01 MICHELIN CGDE : Dominican chef's rags-to-riches tale wows Spain
08/01 MICHELIN CGDE : A TASTE FOR SUCCESS ; If the proof of the pudding is in the eati..
08/01 MICHELIN CGDE : Have a butchers ; tucked away in a remote gloucestershire hamlet..
08/01 MICHELIN CGDE : Once upon a starry night
08/01 MICHELIN CGDE : We love BEST TV
07/31 MICHELIN CGDE : A taste of the Med
07/31 MICHELIN CGDE : has acquired Meyer Lissendorf, a car tire wholesale specialist i..
07/31 MICHELIN CGDE : Tradition versus fusion
07/31 MICHELIN CGDE : New venture cookin' here for Bush chef
07/30 MICHELIN CGDE : Honour for Michael Caines
Advertisement
Chart
Duration : Period :
Michelin (CGDE) Technical Analysis Chart | ML | FR0000121261 | 4-Traders
Income Statement Evolution
More Financials