S&P places Aptiv on watch

S&P said it placed all its ratings for Aptiv plc on CreditWatch with negative implications, including the BBB issuer credit rating.

“The CreditWatch placement indicates our belief that the disruption of global auto production could extend beyond a few weeks. It also reflects that the demand for new cars will likely decline because of the potential economic recessions stemming from the pandemic,” said S&P in a press release.

“We plan to resolve the CreditWatch placement when we can assess the magnitude of the coronavirus' effect on the company's financial condition,” the agency said.

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