 "Fitch Ratings affirms JLR at 'BB-'")
Fitch Ratings has affirmed Jaguar Land Rover Automotive plc's (JLR) long-term foreign-currency issuer default rating (IDRs) and senior unsecured ratings at 'BB-'. The outlook made been maintained as positive.
The affirmation of the ratings reflects Fitch's expectation that JLR will continue to maintain sound profitability and a strong financial profile, despite a period of heavy investment to transition to become a higher volume premium manufacturer.
"We expect the launch of new models and replacement of old models in 2016 to support its sales volumes and profitability, even though the company is facing challenges on several fronts, including weakening sales volumes in its largest market, China. As such, the outlook remains positive," stated Fitch in a release.
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