S&P Global Ratings revised its outlook on ATI Inc. to positive from stable. The agency affirmed the company's 'BB' issuer credit rating.
Robust demand from the aerospace and defense sectors is driving expected deleveraging. ATI's operational performance in the first half of 2026 exceeded previous expectations.
Adjusted leverage could fall below the 2x upgrade threshold within the next year. The company continues to fulfill a record order backlog.
Aerospace and defense revenue reached 68% in 2025. This sector contribution grew from 52% in 2019.