VALLOUREC RECEIVES INVESTMENT GRADE RATING FROM MOODY'S AND S&P

27 Nov 2025 18:14 CET

VALLOUREC RECEIVES INVESTMENT GRADE RATING FROM MOODY'S AND S&P
NOW RATED INVESTMENT GRADE BY ALL THREE MAJOR AGENCIES

Meudon (France), November 27, 2025 – Vallourec, a world leader in premium seamless tubular solutions, announces further positive developments in its credit ratings from Moody’s and S&P Global, following the upgrade to Investment Grade by Fitch in April 2025. Specifically:

• Moody’s upgraded Vallourec’s issuer rating from Ba1 to Baa3, an Investment Grade rating with a stable outlook
• S&P Global upgraded Vallourec’s long- and short-term issuer credit ratings from BB+/B to BBB-/A-3, Investment Grade ratings, with a stable outlook

Moody’s Ratings commented “The effective upgrade to Baa3 reflects continued evidence of Vallourec's successful execution of its strategic transformation, including a shift toward higher-value products and a substantial reduction of its industrial fixed cost base since 2022”, while S&P Global highlighted that “the improvement in Vallourec's margins is sustainable and, as a result, its business is more resilient. Despite some macroeconomic uncertainty, we anticipate that Vallourec's solid position in the premium OCTG global market will support material cash flow generation”.

Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer commented: “Securing Investment Grade ratings from Moody's, S&P Global and Fitch highlights our robust financial health and growing track record of cash generation. Looking ahead, we expect continued improvement in cash conversion as the associated restructuring cash out of the New Vallourec plan diminishes and our strategic actions continue to deliver profitable growth. Importantly, this status provides us with more flexibility to optimize our balance sheet and enhances our access to debt capital markets under more favorable conditions, thus positioning us to continue delivering sustainable value for our shareholders”.

About Vallourec

Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec’s pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 13,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.

Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.

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