Faurecia : A credible Ba1/BB+ rating target by the end of 2022
We are upgrading our credit opinion to Positive from Stable. Although the Covid crisis had an inevitable impact on Faurecia's credit metrics, leading to a one-notch downgrade of its rating, we believe that they should strengthen from 2021 onwards, lending credibility to the objective of recovering 'Ba1/BB+' ratings by the end of 2022. In addition to its strong ability to adapt costs, which has been demonstrated on several occasions, the group should be able to count on a more sus...Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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