S&P upgraded Titan Cement to BB+ from BB

Wednesday, May 24th, 2017
Last Update: 11:40

S&P announced yesterday that it raised its long-term corporate credit ratings on Titan to ΄BB+΄ from ΄BB΄. The outlook is stable, reflecting S&P’s view that Titan will continue to exhibit a robust performance in the U.S., and that credit metrics should continue to gradually improve.

At the same time, the rating agency affirmed the short-term ratings on Titan at ΄B΄.According to the S&P, Titan Group΄s robust operating performance in the U.S. continues to fuel an improvement in overall group results and credit metrics despite persistently challenging market conditions in some core markets, such as Egypt, Brazil, Turkey, and Greece.

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