S&P upgrades Stellantis

S&P said it raised its ratings for Stellantis NV and its senior unsecured debt to BBB from BBB-.

“The upgrade reflects the group's strong performance in 2021 despite operating disruption caused by the global shortage of semiconductors,” the agency said in a press release.

S&P noted Stellantis’ 2021 industrial revenue was in line with its projects, but its profitability and cash flow generation beat the agency’s estimates.

The outlook is stable.

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