Rating agency Fitch has revised Pirelli's Long-term issuer default rating and senior unsecured debt rating upward from 'BBB-' to'BBB'.

The outlook on the Idr rating is stable.

According to a note from the tire maker, the upward revision reflects the company's high profitability and the strength of its cash generation (free cash flow), elements that have enabled a reduction in leverage in line with the parameters required by the new rating.

(Giancarlo Navach, editing Andrea Mandalà)