Gestamp Automoción S A : Standard & Poor’s upgrades Gestamp’s rating
April 10, 2023
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The rating of Gestamp, the Spanish multinational specialising in the design, development and manufacture of metal components for the automotive industry, has been raised one notch today. The rating agency Standard & Poor's has raised Gestamp's corporate rating to "BB" from "BB-". Similarly, Gestamp's bond rating has been raised one notch to "BB+" from "BB".The rating upgrades reflects Gestamp's solid operating performance and progressive leverage reduction during the challenging market conditions of the last three years.
S&P's rating action is based in sustained organic growth together with maintaining margin levels as reflected in 2022 full year results, and on the assumption that the Company will continue to outperform the auto market as well as generate strong operating performance as reflected in 2023 guidance.
The credit rating by Standard & Poor's is a financial indicator to investors and potential investors of debt securities such as bonds to assess the likelihood the debt will be repaid.
Gestamp Automocion SA published this content on 11 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 April 2023 15:17:06 UTC.
Gestamp Automocion SA is a Spain-based company primarily engaged in the auto parts manufacture. It focuses on the design, development and production of metal components and structure systems for the automotive industry. The Company's products portfolio includes skin panels and closure parts, structural and body components, chassis, bumpers and dashboard crossbeams, among others. The Company's customers include Volkswagen, Renault-Nissan, PSA, Daimler, General Motors and BMW, among others. The Company is a parent of the Gestamp Automocion Group, a group, which comprises a number of subsidiaries with operations established in North and South America, Europe and Asia. The Company is controlled by Acek Desarrollo y Gestion Industrial SL.
GESTAMP AUTOMOCIÓN, S.A. 
