KBC Securities - Titan Cement International N.V. (TITC) Titan Cement Credit rating boost ahead of US IPO

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KBC Securities

Sharad Kumar S.P

Titan Cement Credit rating boost ahead of US IPO

Titan Cement announced that S&P Global Ratings has upgraded the group's long-term issuer credit rating by one notch from BB (positive outlook) to BB+ (stable outlook). The upgrade reflects the group's strong operating performance over the last 2.5 years. The rating upgrade confirms the group's capacity to finance its 2026 Green Growth Strategy. We think the credit rating upgrade couldn't have been better timed and will benefit the group in its ongoing US IPO filing of a minority stake of Titan America. We reiterate our BUY rating and €38.0 TP.

27/08/2024 1 EN

Underlying

Titan Cement International N.V.

Titan Cement International SA is a Belgium-based international cement and building material producer. The Company's activities include the production, transportation, and distribution of cement, concrete, aggregates, fly ash, mortars and other building materials. The Company reports its activities into four geographical business segments: Greece and Western Europe, North America, South East Europe and Eastern Mediterranean. Apart from the transportation and distribution, the Company also transfers its know-how through collaborations with customers, business partners, local communities and Academia.

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BE0974338700 Belgium

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Sharad Kumar S.P

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Titan Cement Credit rating boost ahead of US IPO

We are a financial services provider for several types of professional clients, each with distinct needs.

Titan Cement 3Q Preview: Slight slowdown due to heavy hurricane season

Titan Cement Picks Citi Bank and Goldman Sachs For Potential $2b IPO

Solvay Feedback conference call

Ahold Delhaize Conference call feedback

Umicore FIRST LOOK: Update on cost savings and management changes

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