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 May 4, 2022, DBRS Limited (DBRS Morningstar) changed the trend on the Issuer Rating of AB Volvo (Volvo or the Company) to Positive from Stable and confirmed the rating at A (low). The rating remains supported by the Company’s sound business risk assessment as one of the world’s largest truck manufacturers and a major global player in construction equipment. Additionally, following softer earnings in 2020 (substantially attributable to adverse effects of the global progression of the Coronavir...
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