DBRS upgrades Volvo to A (low)

DBRS said it upgraded AB Volvo’s issuer rating to A (low) from BBB (high) and changed the trend to stable from positive.

DBRS said the upgrade is based on the company’s sound business risk assessment (BRA) as one of the world’s largest truck manufacturers and third-largest global player in construction equipment (CE) and the fact that its financial risk assessment (FRA) has progressively strengthened to levels meaningfully above those commensurate with its former rating.

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