S&P: Hyva Global to negative

Standard & Poor's said it revised the outlook on Hyva Global BV to negative from stable.

The agency also affirmed its B+ long-term corporate credit rating and B+ rating on its outstanding senior secured notes.

S&P also lowered its Greater China credit scale rating to cnBB- from cnBB.

The revised outlook reflects increased uncertainty over Hyva's ability to significantly improve its EBITDA margin over the next 12 months, the agency said.

Prospects of a recovery in demand in the Chinese truck market also are uncertain, S&P said.

Demand for Hyva's main products is highly correlated to sales of heavy duty trucks, the agency said.

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