Moody’s lifts Peugeot view to positive

Moody's Investors Service said it changed the outlook on the Ba3 corporate family rating and the Ba3-PD probability of default rating of Peugeot SA and rated subsidiary GIE PSA Tresorerie to positive from stable.

Concurrently, the agency affirmed all ratings.

"Changing our outlook on Peugeot's Ba3 rating to positive reflects the company's successful progress on its turnaround strategy, which, together with favorable market conditions, has supported better margins in the first six months of 2015," Yasmina Serghini-Douvin, Moody's vice president senior credit officer and lead analyst for Peugeot, said in a news release.

"We believe that continued cost discipline and a positive sales momentum in Europe, which is by far Peugeot's largest market, will help the company further boost operating margins to the point where it will narrow the gap in its profit margins relative to its main competitors within 24 months."

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