Moody’s revises Daimler outlook to negative

Moody's Investors Service said it revised its outlook for Daimler AG to negative from stable but affirmed the automaker’s A2 ratings.

“The change in outlook to negative reflects the continued erosion in Daimler's operating performance and financial metrics starting in 2018 and deteriorating further in the first half of 2019 resulting in some credit metrics well below levels appropriate for its current A2 rating category,” said Falk Frey, a senior vice president and lead analyst for Daimler, in a press release.

“The negative outlook also reflects an increasingly difficult industry environment [that] provides less confidence in a strong recovery and reversal of the negative trend in Daimler's performance in the second half of this year,” Frey said.

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