Moody’s reviews Europcar Mobility for downgrade

Moody’s Investors Service said it placed Europcar Mobility Group SA’s ratings under review for downgrade including the corporate family rating of B1 and the probability of default rating of B1-PD.

Moody’s also placed under review the company’s B3 ratings on the senior notes due 2024 and 2026 and the B1 rating on the senior secured notes at EC Finance plc.

“The placement of Europcar’s ratings under review for downgrade was triggered by the company’s material profit warning on its 2019 guidance, which could pressure its credit metrics and liquidity over the next 12-18 months,” said Eric Kang, Moody’s lead analyst for Europcar, in a press release.

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