Renault Wins Back Investment Grade Rating With Spruced-Up Cars
Newly manufactured and used vehicles outside a Renault showroom in Avignon, France.
Photographer: Jeremy Suyker/BloombergRenault SA regained investment grade status at S&P Global Ratings, which praised the French carmaker’s improved model lineup and expansion outside Europe.
The stock increased as much as 2.7% in early Paris trading on Friday following S&P’s assertion that Renault should be able to sustain cash flow and earnings margins that justify raising its rating to BBB-. Shares have declined 23% this year.