S&P upgrades Delphi Automotive

Standard & Poor’s said it raised the corporate credit rating on Delphi Automotive plc to BBB from BBB-.

The outlook is stable.

The agency also said it raised the rating on Delphi Corp.’s senior secured and senior unsecured debt to BBB from BBB-.

The ratings reflect a view that the company can sustain its profitability in the mid-double-digit EBITDA margin range because of its business focus on products with growth potential and its proven cost discipline, S&P said.

The ratings also consider Delphi’s participation in the volatile and competitive global auto supplier industry, the agency said.

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