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S&P changes Aston Martin view
S&P said it revised its outlook on Aston Martin Holdings (UK) Ltd. to positive from stable and affirmed the B- long-term corporate credit rating.
At the same time, the agency affirmed the B- issue rating on the £230 million and $400 million senior secured notes issued by Aston Martin Capital Holdings Ltd. The recovery rating is 4, indicating an expectation of 45% recovery prospects in the event of a payment default.
“We revised the outlook to positive because Aston Martin has delivered on the roll-out of its new car models and has turned around its business prospects faster than we expected. This progress gives us more confidence in the growth of the business over the next 12-18 months,” S&P said in a news release.
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