S&P Global Rating has upgraded Renault’s long-term ranking from BB+ to BBB-. The outlook modifications from constructive to steady. Despite difficult market circumstances, the ranking company expects European automaker Renault’s enterprise mannequin to “support resilient operating cash flow generation over the next two years. We also expect Renault to maintain a prudent financial policy that balances shareholder returns with the protection of its net cash position.”
The stable outlook indicates the forecast that Renault will be able to “withstand adverse market conditions in Europe without its credit indicators or liquidity significantly deteriorating”, he concludes
“We welcome the upgrade from S&P Global Ratings, which recognizes Groupe Renault’s significant progress in improving its profitability, strengthening its cash flow and consolidating its solid liquidity profile,” stated François Provost, CEO of Groupe Renault. This enchancment is a becoming recognition of the profitable transformation of Groupe Renault led by our groups in recent times. We stay absolutely dedicated to persevering with to develop profitably, sustaining a relentless deal with creating worth for our staff, our shareholders and our companions, all with a disciplined monetary coverage.”
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