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S&P shifts AB Volvo view to positive
S&P said it shifted the outlook on AB Volvo to positive from stable and affirmed the A- long-term issuer credit and issue ratings on the company and its debt.
“The outlook revision reflects our expectations that AB Volvo will continue to demonstrate stable operating margins through the cycle. Over the past five years, AB Volvo has demonstrated increased operating stability, which compares favorably with that of most sector peers. If we perceive this trend will continue, this could lead to a one-notch upgrade,” the agency said in a press release.
S&P said it forecasts the group's EBITDA will increase to about Swedish krona (SEK) 45 billion-SEK 50 billion in 2021 from about SEK 29 billion in 2020, with an EBITDA margin of about 12%-13%, up from 9% last year.
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