S&P moves Visteon view to positive

S&P said it revised its outlook for Visteon Corp. to positive from stable and affirmed its BB- issuer rating.

“The positive outlook reflects stronger-than-anticipated operating results in the last few quarters and an expectation that Visteon will sustain higher margins and free cash flow. Visteon's sales, margins, and cash flow generation have been trending better than we expected a couple of quarters ago, increasing the likelihood of an upgrade within the next 12 months,” S&P said in a press release.

For an upgrade, the agency said the company will need to sustain debt to EBITDA below 3x and FOCF to debt well above 10% in 2024 and beyond.

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