However, Moody’s does not speak of the weakness in leadership and the lack of a forecast.
On April 25, 2022, it was reported on RATING©WATCH that Moody’s had to take a closer look at MAHLE’s rating: After the Departure of the CEO, MAHLE Does Not Dare to Make Any Forecasts – Moody’s could be forced to review the Ba1 credit rating, currently “stable” and “not on watch”.
Moody’s didn’t take long to react. On April 26, 2022, Moody’s Investors Service has changed the outlook on the ratings of German automotive parts supplier MAHLE GmbH (MAHLE) to negative from stable. Concurrently, Moody’s affirmed MAHLE’s Ba1 corporate family rating (CFR), the senior unsecured Ba1 instrument rating, the (P)Ba1 senior unsecured euro medium term note programme rating and a Ba1-PD probability of default rating (PDR).
The continued rudderlessness – both in terms of leadership and in terms of guidance – could give the agency reason to take action after the negative outlook.
There is a new report from Moody’s with further details. Here is a key message:
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