And confirms stable outlook

Pontedera, 24 November 2021 – Standard & Poor’s Global Ratings (S&P) said it had reviewed the Piaggio Group (PIA.MI) rating, upgrading it from “B+” to “BB-”.

According to the statement released by the analysts at Standard & Poor’s, “the Piaggio Group’s operating performance and credit metrics are set to grow in 2021 thanks to better-than-expected demand in Europe and the USA and an improved product mix.”

In their statement, Standard & Poor’s also confirmed its stable outlook for the Piaggio Group, adding that the outlook “reflects the expectation that Piaggio will continue its solid operating performance and maintain its market share and leadership positions on the scooter market in Western Europe.”

The full text of the Standard & Poor’s Global Ratings press release is available on the agency’s website www.standardandpoors.com.