Moody's: Renault view stable

Moody's Investors Service said it affirmed the Ba1 corporate family rating of Renault SA and changed the outlook to stable from positive.

At the same time Moody's said it assigned a probability of default rating of Ba1 and affirmed the Ba1 rating of the debt issued by Renault SA.

The outlook change to stable reflects increasing macroeconomic headwinds, which will adversely impact the European passenger car demand in 2012, where Renault generates the majority of volumes.

Moody's said it expects that the weakness of the European car market cannot be fully compensated by volume growth in other parts of the world.

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