Mumbai, 3rd May 2018
· Rating agency Moody’s Investors Service (Moody’s) today upgraded its corporate credit rating for Volvo Cars to Ba1 from Ba2, with a stable outlook.
· “The upgrade of Volvo’s ratings was driven by continued improvements in its operating performance and credit metrics and our expectation that this trend will continue in the current fiscal year founded by further successful new model launches," says Falk Frey, a Senior Vice President and lead analyst for Volvo Car.
· Moody’s anticipates the positive trend in unit sales and revenues to continue based on the full year availability of the XC60 as well as the introduction of the XC40, Volvo’s first SUV in the compact segment.
· Moody’s stated that Volvo Car’s liquidity profile is very good and that the company’s existing resources, as of 31 March 2018, would be sufficient to cover its corporate cash requirements over the next 12 months including sustained high levels of capital expenditures, intra year working capital needs and potential dividend payments.
Full report from Moody's has been attached for reference.
Volvo Car India
Swedish luxury car company Volvo established its presence in India in 2007 and has since then, worked intensively to market the Swedish brand in this country. Volvo Cars currently markets products through its dealerships in Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Delhi NCR – South Delhi, West Delhi and Gurgaon, Hyderabad, Jaipur, Kochi, Kozhikode, Lucknow, Ludhiana, Mumbai, Pune, Raipur, Surat, Vishakhapatnam and Vijayawada.
India Model line-up
Sedan – S60 & S90
Cross Country – V40 Cross Country, V90 Cross Country & S60 Cross Country
SUVs – XC60, XC90 & XC90 T8 Excellence
Hatchback- V40