Fitch revises Volvo outlook to positive

Fitch Ratings said it changed the outlook for AB Volvo to positive from stable, citing the company’s profitability and falling leverage.

“The positive outlook reflects the continued strengthening of Volvo's profitability and falling leverage as well as increased resilience to market swings, on the back of a more flexible cost structure and a growing services business,” said Fitch in a news release.

The agency affirmed Volvo’s BBB+ long-term issuer default rating.

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