Mytilineos Holdings rated BB+ by S&P, Fitch

Mytilineos Group. Mytilineos is being transformed, aiming at its further expansion and its London listing. Its new structure foresees two branches, of energy and metallurgy. The infrastructure activity is coming under the control of two new subsidiaries: METKA will specialize in construction, and M Concessions will be the concession investment arm.

Mytilineos Holdings S.A. became the first Greek company to benefit from Greece's return to investment grade in the past few days, as the listed group is now just a step away from regaining its own investment grade, since S&P has just rated it BB+, from BB previously.

The company has already been rated BB+ by Fitch since April 2023. Mytilineos, according to S&P, which is one of the strictest rating agencies (and the latest to upgrade Greece to investment grade), is characterized by strong profitability, which is key to the upgrade.

The stable outlook reported by the house reflects the assessment that the company will continue to show profitable growth, as both of its business sectors (energy and metals) are proving to be particularly resilient.

In addition, the successful adoption of the self-financed business model was also a criterion, with the aim of limiting...

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