S&P revises Scania view to negative

S&P said it affirmed Scania AB’s BBB rating and revised the outlook to negative. Scania’s parent, Traton SE, recently agreed to acquire the 83.2% of U.S. truck maker Navistar it does not own for about €3.1 billion.

The negative outlook reflects S&P’s outlook on Traton, the agency said.

“We continue to believe Scania is comparatively stronger than Traton on a stand-alone basis, with superior industrial business adjusted EBITDA margins expected at about 8% in 2020 from about 13.5% in 2019, and a likely continued net cash position at the industrial business for the following two years,” S&P said in a press release.

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