(CercleFinance.com) – Moody’s said Tuesday it raised to ‘Ba3′ to ‘Ba2′ note Faurecia, while assigning the note ‘Ba3′ at its last bond issue.
in a statement, Moody’s Investors Service shows have raised to ‘Ba2′, against ‘Ba3′ above, its actual rating of ‘probability of default’ (RDP) and its note called together ‘corporate family rating’ (CFR).
the outlook on both ratings was reduced from ‘positive’ stable ‘.
Moody’s justifies its recovery by the strong improvement profitability and debt reduction of the automotive supplier in 2015, which helped bring its credit ratios with those characteristic of a ‘solid’ rating ‘Ba2′ the agency said.
Moody’s says however note ‘Ba3′ last bond issue of 500 million euros.
at 12:15, the Faurecia share abandoned 1.1% to 32.3 euros on Euronext Paris.
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