Moody’s changes Renault to positive

Moody's Investors Service said it changed the outlook on the Ba1 corporate family rating, Ba1-PD probability of default rating and the Ba1 senior unsecured rating of Renault SA to positive from stable.

Concurrently, the agency affirmed the ratings assigned to the company.

"The positive outlook reflects Renault's improved operational performance mostly driven by the success of recent model launches and cost reduction achieved," Moody's vice president senior credit officer and lead analyst for Renault, Yasmina Serghini-Douvin, said in a news release.

"We also expect Renault's upcoming model launches - particularly in the C & D segment, continued cost optimization and additional industrial integration with Nissan to progressively strengthen its profitability in the medium-term."

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