Moody’s upgrades Peugeot to Ba2

Moody's Investors Service said it upgraded Peugeot SA’s corporate family rating to Ba2 from Ba3 and probability of default rating to Ba2-PD from Ba3-PD.

Concurrently the agency upgraded Peugeot's and its rated subsidiary GIE PSA Tresorerie's ratings to Ba2/provisional Ba2 from Ba3/provisional Ba3 and affirmed the NP/provisional NP ratings.

The outlooks were changed to stable from positive.

"Today's upgrade of Peugeot's ratings recognizes its success in implementing its industrial reconstruction plan, as well as the potential for further improvement in earnings in the next 12-18 months as Peugeot launches new models, takes advantage of the positive business momentum in Western Europe and continues its rationalization efforts,” Yasmina Serghini, Moody's vice president, senior credit officer and lead analyst for Peugeot, said in a news release.

© 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.