Moody’s confirms Renault’s credit rating at “Ba2”

PARIS (Agefi-Dow Jones)–The rating agency Moody’s on Wednesday confirmed Renault’s credit rating at “Ba2” as well as the negative outlook of this same rating. This confirmation “reflects the return of Renault’s margins to slightly positive levels in 2021” as well as “further improvements expected, in line with the group’s strategic plan until 2025” and the group’s solid liquidity, indicated Matthias Heck, analyst from the rating agency. Moody’s considers that the suspension of the group’s industrial activities in Russia, announced on March 23, constitutes a “setback”. But the rating agency also notes that the debt of 1.1 billion euros of Avtovaz, the Russian subsidiary of Renault, would disappear from the group’s balance sheet if the manufacturer decided to cease its activities in Russia. ([email protected]) editor: VLV

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April 06, 2022 02:04 ET (06:04 GMT)