Fitch upgrades Stellantis

Fitch Ratings said it upgraded Stellantis NV's long-term issuer default rating and senior unsecured rating to BBB from BBB-.

“The upgrade reflects Fitch's expectation that Stellantis will maintain its strong financial profile, supported by its resilient profitability despite the pandemic and increasing inflationary pressures. Fitch forecasts that Stellantis will generate a free cash flow (FCF) margin of around 1.5% over its four-year forecast period to 2025, despite limitations on production volumes due to continuing supply-chain constraints for the next 12-18 months,” the agency said in a press release.

The outlook is stable.

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