Ftich Ratings upgraded the credit rating of Mytilineos to BB+ from BB, with stable outlook, and forecast a further improvement of operating earnings (more than 900 million euros in 2023) in the coming years.
The credit rating firm based its decision on the company’s development in the fields of electricity, natural gas and renewable energy sources (including the RES project construction), the diversified business profile and its strong position in the domestic energy market.
A Mytilineos extraordinary general shareholders’ meeting will meet on Monday to approve the increase of a price cap in a share buyback programme, from 25 to 40 euros, and to approve the new corporate structure plan.
