Piaggio Group: Standard & Poor's improves outlook to positive. Rating “BB-” affirmed

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PRESS RELEASE

PIAGGIO GROUP: STANDARD & POOR'S IMPROVES OUTLOOK TO POSITIVE

RATING "BB-" AFFIRMED

Pontedera, September 26, 2023 - The rating agency Standard & Poor's Global Ratings (S&P) has communicated the revision of the outlook of the Piaggio Group (PIA.MI), raising it from "stable" to "positive".

According to what was communicated by Standard & Poor's analysts, "The positive outlook, which indicates the potential for an upgrade over the next 6-12 months, reflects the expected improvement in Piaggio's operating performance and the belief that the company could retain credit metrics commensurate with a higher rating."

Standard & Poor's analysts have also affirmed the Piaggio Group rating "BB-", assigning same rating to the proposed Euro 250 million senior notes that Piaggio launched on September 25, 2023.

The full text of the relevant Standard & Poor's Global Ratings press release is available on the agency's website www.standardandpoors.com.

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