(Alliance News) - Pirelli & C. Spa announced Friday that S&P Global Ratings has revised its rating on the company, confirming its investment grade BBB- rating and improving the outlook from "stable" to "positive."

In explaining the reason for the upward revision of the outlook, "the agency stressed that Pirelli is well positioned to deliver on its business plan for 2024-2025, has solid cost discipline and a strong positioning in High Value tires that allows it to generate stable operating cash flow with a consequent reduction in leverage," as the company explained in a note.

Pirelli trades down 1.9 percent at EUR5.85 per share.

By Claudia Cavaliere, Alliance News reporter

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