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S&P upgrades Aston Martin
S&P said it raised its long-term issuer credit rating on Aston Martin Holdings (UK) Ltd. to B from B-.
The outlook is stable.
At the same time, the agency raised the issue rating on the £285 million and $400 million senior secured notes issued by Aston Martin Capital Holdings Ltd. to B.
S&P revised the recovery rating to 3 from 4, indicating an expectation of 50% recovery prospects in the event of a payment default.
The agency said it raised the issuer credit rating on Aston Martin because the company continues to deliver on the rollout of its new car models.
“This progress gives us more confidence in its business growth over the next 12-18 months,” S&P said in a news release.
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