Constellium outlook raised to positive by Moody’s on strong results

Moody's Ratings has upgraded Constellium SE's outlook from stable to positive, while affirming its Ba3 Corporate Family Rating, Ba3-PD Probability of Default Rating, and Ba3 backed senior unsecured ratings. This positive revision is attributed to Constellium's robust operating performance in the first half of 2026, which surpassed Moody's expectations, leading to significantly strengthened credit metrics despite flat shipments. The company's Moody’s-adjusted EBITDA increased by 110% to nearly $720 million, and it has begun using free cash flow for debt reduction, aligning with its financial policy targets.