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Moody’s Issues "Stable" Outlook for Europe’s Auto Supply Base
Moody's Investors Service has issued a "stable" outlook over the next 12-18 months for Europe's auto suppliers, citing reviving sales in the region.
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Moody's Investors Service has issued a "stable" outlook over the next 12-18 months for Europe's auto suppliers, citing reviving sales in the region.
But the credit ratings company says overall free cash flow for the supply industry is likely to remain negative this year.
Moody's says it might change its outlook to "positive" if Europe's auto industry can sustain organic growth of more than 5%. It notes that suppliers with strong presence in global markets should be able to surpass 5% growth this year.
The service cautions it will lower its outlook to "negative" if Europe's market stalls or growth in Asian markets significantly weakens.
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