S&P revises Valeo view to negative

S&P said it revised its outlook on Valeo SA to negative from stable and affirmed the BBB/A-2 long- and short-term issuer credit ratings on the group.

S&P also affirmed its BBB issue-level rating on Valeo's unsecured debt.

“The negative outlook reflects increased risks of a further weakening of operating conditions in the global automotive industry,” S&P said in a news release.

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