TITAN Group’s Credit Rating Improved to “BB+ with Positive Outlook” by S&P Global Ratings

BRUSSELS--(BUSINESS WIRE)--S&P Global Ratings has revised TITAN SA’s (Brussels:TITC) outlook to ‘Positive’ while affirming its ‘BB+’ long-term credit rating. This decision reflects TITAN Group’s continued robust financial performance and the effectiveness of its supportive financial policies.

S&P’s report highlights the Group’s resilient results driven by its strong operations. The positive outlook demonstrates S&P views that they could raise the long-term rating to ‘BBB-‘ over the next 12-18 months, if TITAN keeps its financial leverage at the lower end of its 1.5x-2.0x target, and meets other financial metrics.

S&P's decision, along with Fitch's recent revised outlook, confirms TITAN’s sustainable growth, recognizes its strong financial discipline and positive prospects.

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About TITAN Group

TITAN Group is a Belgium-registered company and a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs more than 6,000 people and serves customers in over 25 markets, on four continents. It holds prominent positions in the United States, Europe - including Greece, the Balkans, the United Kingdom, Italy, and France - and the Eastern Mediterranean. The Group also has joint ventures in Brazil and India. With more than 120 years of history, TITAN has always fostered a family-and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi). The Group is listed on Euronext Brussels and Paris, and the Athens Exchange, and its US business is listed on the NYSE. For more information, visit our website at www.titanmaterials.com.