S&P removes Jaguar Land Rover from watch list

S&P said it removed Jaguar Land Rover Automotive plc’s ratings from CreditWatch negative.

“The negative outlook indicates that JLR faces risks from weaker-than-expected market volume growth, pressured profitability, and potentially near-term events such as a potential no-deal Brexit and new U.S. tariffs,” said S&P in a press release.

S&P said it is likely the company’s credit profile will be under pressure until global auto demand recovers.

The agency affirmed the company’s B+ rating and its issue ratings.

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