S&P elevates Mytilineos

S&P said it raised to BB+ from BB the long-term issuer credit rating on Mytilineos SA and the issue ratings on its senior unsecured debt.

The outlook is stable.

“Mytilineos' strong profitability in 2023 indicates that the addition of build-operate-transfer (BOT) projects has been a successful and significant step toward transforming its portfolio for the future,” S&P said in a news release.

“The financial policy remained conservative, with the company making limited and predictable shareholder returns but showing little appetite for material acquisitions.”

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