S&P pulls Visteon from watch

S&P said it affirmed Visteon Corp.’s BB- issuer rating and the company’s issue-level ratings and removed all its ratings from CreditWatch with negative implications.

“Production is improving globally, and if volumes continue to increase, we believe Visteon will be able to significantly increase its margins toward pre-pandemic levels in 2021. However, the timing and degree of economic recovery from Covid-19 remain uncertain,” S&P said in a press release.

The outlook is negative.

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