# Titan SA credit rating upgrade

> Live situation record from CLSTR: https://clstr.news/situations/titan-sa-credit-rating-upgrade
> Updated: 2026-10-05T11:47:54.000Z. Sources: 12. Developments: 2.

Titan SA has been upgraded to an investment-grade long-term credit rating of ‘BBB-’ by S&P Global Ratings, with a stable outlook. The upgrade from ‘BB+’ is attributed to the group’s strong operational performance, low financial leverage, and disciplined financial policies.

S&P noted that while the company’s cash flow from operations to debt ratio is expected to dip to 60%-65% by 2026 following acquisitions in the United States, France, and Turkey, it is projected to improve through 2027-2028. Titan Group CFO Giannis Ioannou stated that reaching this status reflects years of financial discipline and is expected to expand access to capital markets and reduce financing costs in support of the ‘Titan Forward 2029’ strategy.

## Timeline

### 2026-10-05: Titan SA receives investment grade credit rating upgrade from S&P

S&P Global Ratings has upgraded Titan SA’s long-term credit rating to ‘BBB-’, achieving investment grade status due to strong operational performance and disciplined financial management.

3 sources. https://clstr.news/cluster/titan-sa-receives-investment-grade-credit-rating-upgrade-from-sp

### 2026-09-09: Inalum achieves international investment-grade rating from S&P Global

Inalum has secured an international investment-grade rating of ‘BBB-’ from S&P Global Ratings, bolstering its ability to fund national aluminum downstreaming projects and industrial expansion.

9 sources. https://clstr.news/cluster/bank-rakyat-indonesia-maintains-bbb-credit-rating-and-receives-esg-award

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Cite as: Titan SA credit rating upgrade. CLSTR, https://clstr.news/situations/titan-sa-credit-rating-upgrade