DBRS downgrades Renault

DBRS said it downgraded Renault SA’s issuer rating to BB (high) from BBB. The trend is negative. Concurrently, DBRS decided to discontinue and withdraw Renault’s senior unsecured debt rating.

DBRS said it projects the company’s financial risk assessment and associated credit metrics to decline to levels markedly weaker relative to the former ratings as a result of the global escalation of the coronavirus disease (Covid-19) pandemic.

With this rating action, DBRS said it removed Renault’s issuer rating from under review with negative implications, where it was placed on March 27.

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