Fitch affirms Kronos Worldwide at 'B+'; outlook stable

Fitch affirms Kronos Worldwide at 'B+'; outlook stable

Fitch Ratings has affirmed Kronos Worldwide Inc.'s (NYSE: KRO) credit rating at 'B+', with a stable outlook. The rating reflects the company's strong market position in the titanium dioxide industry and its ability to generate cash flows. Fitch also noted that Kronos Worldwide's strategic initiatives, such as the expansion of its manufacturing capacity and the acquisition of Louisiana Pigment Company, have enhanced its competitive position.

The rating agency cited Kronos Worldwide's robust financial performance, particularly its strong earnings growth in Q1 2025, as a positive factor. However, Fitch also highlighted the company's recent debt issuance, including a €75 million private offering of 9.50% Senior Secured Notes due 2029 [1], which may slightly increase its leverage.

Fitch expects Kronos Worldwide to maintain its market leadership position in the titanium dioxide industry, driven by its innovation in coating technologies and specialty chemical solutions. The company's focus on environmental compliance and market expansions also supports its long-term growth prospects.

References:

[1] https://www.stocktitan.net/news/KRO/
[2] https://www.marketscreener.com/news/kronos-worldwide-inc-announces-private-offering-of-an-additional-a-75-million-of-9-50-senior-se-ce7d59dadf8af421