Volvo and Units 'A-2' Rtgs Affmd by S&P Apr 98
- ID: 1806996
- April 1998
- Standard & Poors
LONDON - Standard & Poor's CreditWire 4/2/98 -- Standard & Poor's today affirmed its 'A-2' short-term corporate credit and commercial paper ratings of AB Volvo (publ.) and guaranteed commercial paper issues of related entities. (see list below). The ratings reflect Volvo's reshaped business portfolio, the group's operational performance over the last years largely driven by the strength of Volvo's truck operations, as well as its still conservative financial profile. As anticipated funds from disposal of non-core assets were utilized up to a minimal net cash position exceeding industrial debt at year-end 1997. While the final success of Volvo's car product strategy can still not be viewed as determined, 1997 results delivered the first sign of a recovery towards Volvo cars...
Companies mentioned in this report are: AB Volvo,Volvo Group Finance Europe B.V.,Volvo Treasury AB,Volvo Treasury North America L.P.,Volvo Treasury Australia Proprietary Ltd.
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