DBRS ups Volvo view to positive

DBRS said it confirmed the issuer rating of AB Volvo at BBB (high).

The trend on the rating has been changed to positive from stable, in recognition of the company’s stronger financial performance in recent periods, which ] exceeded DBRS’ expectations.

The agency said the improved and sustained operating performance coupled with a stronger balance sheet (resulting from non-core asset sales in addition to the company’s prior issuance of a hybrid €1.5 billion bond with equity-like features) has caused Volvo’s credit metrics and financial risk assessment to be above levels commensurate with the current rating.

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