S&P revises Europcar view to negative

S&P said it revised the outlook for Europcar Mobility Group to negative from stable and affirmed its BB- rating.

“The outlook revision follows Europcar’s weaker-than-expected operating performance in the third quarter of 2019, which led the company to revise its EBITDA guidance for full-year 2019 to €305 million-€315 million (excluding the negative EBITDA contribution of its urban mobility business unit, and before exceptional expenses), compared with more than €375 million previously and €350 million reported in 2018,” said S&P in a press release.

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