Piaggio & C. S.p.A.: Update to credit analysis
Our credit view of this issuer reflects its good geographical diversification of sales and production footprint, offset by its exposure to discretionary consumer spending.Piaggio is a manufacturer of two-wheeler motor vehicles and commercial vehicles. Co.'s product range includes scooters, mopeds and motorcycles from 50cc to 1,400cc marketed under the Piaggio, Vespa, Gilera, Aprilia, Moto Guzzi, Derbi and Scarabeo brands. Co. also operates in the three- and four-wheeler light transport sector with its Ape, Porter and Quargo ranges of commercial vehicles.
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