Howmet Aerospace Receives Two-Notch Rating Upgrade from Moody's and Outlook Upgrade from Fitch

Business Wire 6-Aug-2024 7:46 PM

Key Announcements

• On August 6, 2024, Moody's Ratings ("Moody's") upgraded Howmet Aerospace's senior unsecured ratings from Baa3 to Baa1.
• On August 6, 2024, Fitch Ratings ("Fitch") revised its Rating Outlook on Howmet Aerospace from Stable to Positive.

Howmet Aerospace (NYSE:HWM) today reported the following actions taken by rating agencies Moody's and Fitch.

On August 6, 2024, Moody's upgraded Howmet Aerospace's senior unsecured ratings from Baa3 to Baa1, the commercial paper ratings from P-3 to P-2, and the preferred stock ratings from Ba2 to Baa3. The senior unsecured rating change is a two-notch upgrade from the prior rating. The rating outlook was revised from positive to stable.

On August 6, 2024, Fitch affirmed Howmet Aerospace's senior unsecured debt ratings at BBB, the short-term and commercial paper ratings at F2, and the preferred stock ratings at BB+. The rating outlook was revised from stable to positive.

About Howmet Aerospace

Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The Company's primary businesses focus on jet engine components, aerospace fastening systems, and airframe structural components necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged aluminum wheels for commercial transportation. With approximately 1,150 granted and pending patents, the Company's differentiated technologies enable lighter, more fuel-efficient aircraft and commercial trucks to operate with a lower carbon footprint. For more information, visit www.howmet.com.

Dissemination of Company Information

Howmet Aerospace intends to make future announcements regarding Company developments and financial performance through its website at www.howmet.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240806523776/en/