Moody’s alters CATL view to positive

Moody’s Investors Service said it revised its outlook for Contemporary Amperex Technology Co. Ltd. to positive from stable and affirmed the Baa1 ratings on CATL and the bonds it guarantees.

"The change in the rating outlook to positive reflects our expectation that CATL will maintain its leading position in China's electric vehicle battery market and significantly increase its revenue scale to RMB 719 billion in 2024 from RMB 130 billion in 2021 and RMB 45.8 billion in 2019, despite the intense competition," said Chenyi Lu, a Moody's vice president and senior credit officer, in a press release.

“"The rating action also reflects our expectation that CATL's credit profile will strengthen further due to robust revenue growth, stronger earnings and prudent financial management over the next two years," Lu added.

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