Fitch: Continental outlook positive

Fitch Ratings said it changed the outlook on Continental AG's long-term issuer default rating to positive from stable and affirmed its B+ long-term and B short-term issuer default ratings and the BB- issuer-level and RR3 recovery ratings assigned to Conti-Gummi Finance BV's senior secured notes.

The agency said the positive outlook reflects measures taken by Continental to reduce balance sheet debt and extend its debt maturity profile, together with the expectation for the next 12 to 24 months that a continuing positive trend in operational performance and profitability will lead to an improvement in leverage and coverage ratios.

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