Standard & Poor’s last week assigned an “A-” long-term corporate credit rating with stable outlook for AB Volvo and affirmed the A-2 short-term rating.
In its credit report Standard & Poor’s says the assigned rating reflects AB Volvo’s “leading market positions worldwide” and the fact that “Volvo also benefits from a conservative financial profile and high financial flexibility.”
“In the current financial environment it’s very valuable to have an additional rating perspective,” said Mikael Bratt, chief financial officer of the Volvo Group. “This report gives the investor community a clear picture of our financial strength and position.”
The Volvo Group is a global manufacturer of trucks, buses and construction equipment, drive systems for marine and industrial applications, and aerospace components and services. Annual sales of the Volvo Group amount to about SEK 285 billion (about U.S. $34.7 billion). The Volvo Group is a publicly held company headquartered in Göteborg, Sweden.