Moody’s changes German carmakers view to negative

Moody’s Investors Service said it revised the outlooks for Daimler AG, BMW AG and Volkswagen AG to negative from under review.

The agency also confirmed all of the carmakers’ ratings.

Moody’s started reviewing the companies and their subsidiaries for downgrades on March 25. The outlook revisions and confirmations end the review process, the agency said.

The negative outlook reflects the potentially severe impact that the coronavirus could have on the companies’ operating performance and credit metrics into 2021, Moody’s said.

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