Moody's changes Volvo Car's outlook to stable

Moody's Investors Service said it changed the outlook on the ratings of Volvo Car AB to stable from negative and affirmed Volvo Car's Ba1 corporate family rating, its Ba1-PD probability of default rating and its Ba1 senior unsecured instrument ratings.

“The change in outlook reflects the continued recovery in global light vehicle sales, the expectation that Volvo Car will be able to further improve its credit metrics in 2021, and the company's ability to comply with stricter CO2 emission targets in 2021,” said Matthias Heck, a Moody's vice president - senior credit officer and lead analyst for Volvo Car, in a news release.

“The rating affirmation balances the company's strengths as a well-established automotive manufacturer with the overall challenges in the automotive industry, especially its high cyclicality and the trend towards electrification and stricter environmental regulation.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.