The improved rating is indicative of Pirelli's resilient business model and financial health. Fitch's decision to enhance Pirelli's rating underscores the company's successful implementation of its industrial plan, effective cost management, and strategic market positioning. This positive development is expected to further bolster investor confidence and provide Pirelli with more favourable conditions in the credit market.

Marco Tronchetti Provera, Executive Vice Chairman and CEO of Pirelli, commented on the upgrade, stating, "This rating upgrade by Fitch is a recognition of our ongoing efforts to strengthen our financial structure and enhance our market position. It reflects our commitment to maintaining solid profitability and generating strong cash flow."

The upgrade from Fitch follows a similar positive outlook from S&P Global Ratings, which recently affirmed Pirelli's 'BBB-' rating but revised its outlook from stable to positive. Both ratings highlight Pirelli's robust operational performance and its strategic initiatives aimed at sustaining growth and financial stability.

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