Renault SA is rated by five credit rating agencies (CRAs):
3 international CRAs: Moody’s, Standard & Poor’s, Fitch
2 Japanese: R&I et JCR
In November 2014, Moody's agency maintained Renault's debt notation to Ba1, and raised its outlook to positive.
In November 2014, Fitch ratings revised its notation to BBB-, with a stable outlook.
In April 2015, Standard & Poor's revised its notation to BBB-, with a stable outlook.
In March 2013, JCR maintained its notation to A-, stable outlook.
In November 2014, R&I kept its long-term rating to BBB+, stable outlook.
|Agency||Long-term rating||Short-term rating||Outlook||Latest press release / Credit analysis|
|Moody's||Ba1||NP||positive||Profile June 15|
Rating Nov 14
FAQ Nov 14
Credit opinion Nov 14
|Standard & Poor's||BBB-||A3||stable||Press release April 2015|
|Fitch||BBB-||-||stable||Rating Nov 2014|
Press release Nov 2014
Press release Apr 2014
Analysis Sept 2013
|R&I||BBB+||-||stable||Press release Nov 2014|
|JCR||A-||-||stable||Press release February 2015|
Renault SA refinances most of its automobile business on the capital markets, mainly through long-term funding (bond issues, private placements).
During the first half of 2015, Renault SA redeemed bonds for a total amount of €1,042 million and did not issue any new bonds.
Debt issue programme
It is vital for the Group to use different sources of refinancing to fund its automotive business. Accordingly, Renault SA has arranged three insurance programs
Details on public and private bond issues.