TITAN Forward 2029 Strategy Gains Further Momentum with Investment-Grade Rating
TITAN Forward 2029 Strategy Gains Further Momentum with Investment-Grade Rating
S&P Global Ratings Upgrades TITAN to BBB- with Stable Outlook
BRUSSELS--(BUSINESS WIRE)--Regulatory News:
Titan SA (the Company) (Euronext Brussels, Paris and Euronext Athens, TITC) announces that S&P Global Ratings has upgraded the Company’s long-term issuer credit rating to 'BBB-' from 'BB+', assigning a Stable Outlook.
Achieving investment grade marks an important milestone in the execution of the TITAN Forward 2029 strategy and demonstrates that the Group remains firmly on track to deliver the strategic and financial targets presented at the TITAN Forward 2029 Investor Day. The upgrade reflects TITAN’s consistently strong operating performance, prudent financial policy, resilient cash flow generation and sustained commitment to maintaining a strong balance sheet, supported by its leading market positions, geographic diversification and disciplined capital allocation strategy.
The investment-grade rating provides independent validation of TITAN’s strengthened credit profile and the momentum behind its strategy. It reinforces confidence among customers, suppliers, investors and financial partners and is expected to broaden access to capital markets, diversify funding sources and enhance the Group’s financial flexibility to support growth, innovation and decarbonization.
John Ioannou, Group CFO, commented: "Reaching investment grade with S&P is a defining milestone in TITAN's journey, reflecting years of disciplined financial execution, deleveraging and consistent cash generation. It broadens our access to capital markets, lowers our cost of funding, and gives us greater flexibility to invest in growth and decarbonization while continuing to deliver long-term value to all stakeholders."
- This press release may be consulted on the website of Titan SA via the following link: https://ir.titanmaterials.com/en/regulatory-stock-exchange-announcements
- For further information, please contact Investor Relations at +30 210 2591 257
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. The Group’s commitment to responsible growth is reflected in its net-zero ambition for 2050, its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi), and its continued inclusion in the FTSE4Good Index Series. The Group is listed on Euronext Brussels and Paris, and on Euronext Athens, and its US business is listed on the NYSE. For more information, visit our website at www.titanmaterials.com.
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