Renault: Moody's downgrades credit rating

(CercleFinance.com) - Moody's announces that it has downgraded Renault's credit rating from "Ba1" to "Ba2," adopting a "negative" outlook, following a review, ahead of a possible downgrade that the rating agency began on 25 March.


The agency explains that this decision "reflects Moody's view that the downturn brought on by the coronavirus will cause a pronounced weakening in Renault's credit metrics," for the French car maker.

"We expect that during 2020 Renault's Moody's adjusted EBITA margin could fall below -3%, compared with an already very weak 0.8% in 2019." Moody's says.


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