Fitch upgrades Stellantis

Fitch Ratings said it upgraded Stellantis NV's long-term issuer default and senior unsecured ratings to BBB+ from BBB.

The outlook is stable.

“The upgrade reflects Stellantis' continuing strong financial profile, underpinned by its solid and resilient profitability and cash flow generation despite supply-chain challenges, commodity inflation, and a high interest-rate environment,” Fitch said in a press release.

Fitch said it expects Stellantis's EBIT margin at around 10% and a free cash flow margin on average of 2.5% to 2026, which is commensurate with the A rating median in its auto navigator. “This is despite our expectation of softer pricing and a less favorable vehicle mix for the next 12-18 months.”

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