S&P changes Peugeot, Banque PSA to positive

Standard & Poor's said it revised its outlook Peugeot SA's captive finance company, Banque PSA Finance, and on Banque PSA’s subsidiary Credipar, to positive from stable.

At the same time, the agency affirmed its BB/B long- and short-term counterparty credit ratings on Banque PSA and Credipar.

S&P said the positive outlook reflects its view that higher-than-expected free operating cash flow generation could significantly improve Peugeot's credit ratios over the next 12 months and that restructuring measures should enable the automotive division to remain close to breakeven at the operating income level.

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