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DBRS: PSA view to negative
DBRS said it confirmed the senior unsecured debt rating of PSA Peugeot Citroen at BBB (low).
The trend was changed to negative from stable.
This trend revision considers PSA's weaker 2011 consolidated earnings amid ongoing challenging conditions in the European automotive industry, DBRS said.
The ratings reflect the lackluster performance of the company's core automobile segment, the agency said.
DBRS noted that the weak automobile results were partly offset by PSA's other business segments.
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