Member access

4-Traders Homepage  >  Shares  >  Euronext Paris  >  Michelin (CGDE)    ML   FR0000121261

MICHELIN (CGDE) (ML)

1865
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

MICHELIN : Moody's Upgrades Michelin to Baa1

04/24/2012 | 11:35am 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)
03:27a MICHELIN CGDE : Top chef Daryl Chadwick furnishes shoppers with food
03:13a MICHELIN CGDE : 3TO SEE ; TUESDAY March 31
03:13a MICHELIN CGDE : 3TO SEE ; TUESDAY March 31
03/27 MANDARIN ORIENTAL : Mother's Day Dining Delights and Spa Treats At Mandarin Orie..
03/27 MANDARIN ORIENTAL : Le French Gourmay Comes To Pierre and Cafe Causette at Manda..
03/27 MICHELIN CGDE : Renewed tyre management contract supports Suckling Transport's s..
03/27 MICHELIN CGDE : Ats euromaster adds to safety award tally
03/27 MANDARIN ORIENTAL : Washington DC Welcomes New Executive Chef, Adam Tanner
03/27 MICHELIN CGDE : Amendment to a partial share buyback management agreement
03/27 MICHELIN CGDE : Amendment to a partial share buyback management agreement
Advertisement
Chart
Duration : Period :
Michelin (CGDE) Technical Analysis Chart | ML | FR0000121261 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF