S&P upgrades Autoliv

Standard & Poor's said it raised its long-term corporate credit rating on Autoliv Inc. to A- from BBB+ and removed all long-term ratings from CreditWatch, where they were placed with positive implications on Nov. 26.

The outlook is stable.

At the same time, S&P affirmed its A-2 short-term rating and K-1 Nordic national scale rating on Autoliv.

S&P said it based the upgrade on S&P's reassessment of Autoliv's financial risk profile as "minimal." Importantly, Autoliv's healthy free cash flow generation and very low leverage support the maintenance of solid financial ratios, the agency said.

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