Fitch revises Jaguar Land Rover view to negative

Fitch Ratings said it revised Jaguar Land Rover Automotive plc's outlook to negative from stable.

The agency also affirmed the long-term issuer default rating and senior unsecured rating at BB+.

Fitch said the outlook change reflects projections of further negative free cash flow in the next two years before gradually recovering to positive from end-financial year ending March 31, 2021.

The agency said the ratings may be downgraded if Fitch has reason over the next six to 12 months to believe that Jaguar’s free cash flow is not improving according to the agency’s projections.

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