S&P revises Samvardhana view to negative

S&P said it revised the outlook for Samvardhana Motherson Automotive Systems Group BV to negative from stable and affirmed the BB+ long-term issuer rating.

The negative outlook reflects the prospect of the group's funds from operations to debt staying below the 30% threshold over the next 12 months, due to a prolonged downturn in the auto industry and unanticipated challenges in ramping up greenfield operations or the proposed demerger and corporate reorganization, S&P said.

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