Renault SA refinances most of its automobile business on the capital markets, chiefly through long-term funding (bond issues, private placements).

Ratings

Rating agencies 

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.

Ratings

AgencyLong-term ratingShort-term ratingOutlookLatest press release / Credit analysis
Moody'sBa1NPpositiveProfile June 15
Rating Nov 14
FAQ Nov 14
Credit opinion Nov 14
Standard & Poor'sBBB-A3stablePress release April 2015
FitchBBB- -stableRating Nov 2014
Press release Nov 2014
Press release Apr 2014
Analysis Sept 2013
R&IBBB+stablePress release Nov 2014
JCRA-stablePress release February 2015

Debt profile

graph-finance-GB

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

Debt issues 

Details on public and private bond issues.