Fitch Ratings has upgraded Faurecia S.A.'s Long-Term Issuer Default Rating (IDR) and senior unsecured debt to 'BB+' from 'BB'. The Outlook on the Long-Term IDR is Stable.
The rating action reflects the improved and better-than-expected earnings and underlying cash generation of Faurecia, which positions the French auto supplier at the high-end of the 'BB' category, according to Fitch's revised Rating Navigator for auto suppliers.
View Fitch's full press release below.
Executive Vice-President, Finance
Michel Favre graduated from HEC business school in 1982 began his career as bank auditor and consultant. He worked with Valeo during 13 years before joining Altadis Group in July 2001, where[...]
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