Climate change risk already affects the major automotive issuers we rate; essentially all automotive original equipment manufacturers (OEMs) have made substantial investments as they shift to electric vehicle (EV) production and away from internal combustion engine vehicles. In the near term, our outlook for the sector is neutral, with company credit profiles supported by reasonable profitability, robust liquidity positions, and conservative financial postures. Over the longer term, this EV tr...
On July 6, 2021, DBRS Limited (DBRS Morningstar) changed the trends on Magna International Inc.’s (Magna or the Company) Issuer Rating and Senior Debt rating to Stable from Negative and confirmed both ratings at A (low). Concurrently, DBRS Morningstar changed the trend on the Company’s Short-Term Debt rating to Stable from Negative and confirmed the rating at R-1 (low).
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