Fitch upgrades Michelin Long-Term rating to A, with Stable outlook

Effective 21 February 2025, Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) for Michelin (Compagnie Générale des Etablissements Michelin and its main financial subsidiaries) from ‘A-’ to ‘A’, with a Stable outlook. The agency comments that this change “reflects Michelin’s strong free cash flow generation despite challenging end-markets.”