Moody's7 Aug 2023 14:14
Moody's on Monday affirmed Aston Martin Lagonda Global Holdings' (AML.L) family rating of Caa1 and probability of default rating of Caa1-PD, while changing its outlook from stable to positive.
The ratings agency's decisions reflect the British luxury carmaker's improved operating performance in the first half of the year, which could continue over the next 18 months thanks to the launch of new models. Moody's noted that the group has completed its £210 million equity offering, the proceeds of which were primarily used to prepay its £186 million second lien notes