Moody’s upgrades Aston Martin

Moody's Investors Service said it upgraded Aston Martin Holdings (UK) Ltd.’s corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD and Aston Martin Capital Holdings Ltd.’s senior secured notes to B2 from B3.

The outlook was changed to stable from positive.

"Aston Martin's upgrade reflects the company's better than expected operating performance since Q4 2016 and, moreover, Moody's view of a continued substantial improvement over the period 2017-2019 driven by the successful renewal of Aston Martin's sports car range, following strong demand for its new DB11 model with V12 and V8 engine variants launched in Q4 2016 and June 2017 respectively," Falk Frey, Moody's senior vice president and lead analyst for Aston Martin, said in a news release.

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