S&P lifts Hyva view to stable

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

The agency also said it affirmed the company's B long-term corporate credit rating and B long-term issue rating on the company's senior unsecured notes.

In line with the outlook revision, the agency also said it raised the long-term Greater China regional scale rating on the company and its notes to cnBB- from cnB+.

Hyva is expected to maintain its already improved financial performance over the next 12 months, S&P said.

Hyva's performance was better than expected in 2013, even though revenue grew just 1.3% year-over-year, the agency said.

Hyva's limited product base and high exposure to the volatile and cyclical heavy duty trucks market constrains the ratings, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.