Moody’s could be forced to review the Ba1 credit rating, currently “stable” and “not on watch”.
The automotive supplier MAHLE was able to boost sales and earnings power in 2021 despite difficult conditions but expects growing problems for the global automotive sector. First Covid, then the semiconductor shortage and now the war in Ukraine, combined with massively rising costs – the German group is therefore cautious and is not making any forecasts for the current year.
The company’s lack of ability to make any predictions isn’t good news. This is particularly threatening because the company has not succeeded in finding new appointments to the top management. After a few months in office, the new CEO left. Therefore, the results must be closely controlled. The new situation could be a reason for the credit rating agency to review the existing credit rating and put it on watch. Routine monitoring of the new figures from the annual financial statements is not enough. A closer look at the statements is therefore necessary:
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