Airbus, Renault, Europcar, SoLocal, Fnac Darty, Faurecia, Valeo ... So many companies weakened by the Covid-19 crisis, and whose financial rating has logically been downgraded. “Our response to this crisis was quick, measured and rigorous. With our offices in Asia, we saw the crisis coming and we quickly decided to act, ”explains Myriam Durand, General Manager Corporate Finance of Moody's.
Read also: Is Airbus taking advantage of the crisis to restructure?
Key indicators for investors, the recommendations of the three major rating agencies - Moody's, S&P Global Ratings and Fitch - are being followed closely. The rating actions on debt issuers are certainly not abnormal, even in times of recession, however a question emerges: could the most fragile groups suffer the pro-cyclical effect of these downgrades? In other words, can the pessimistic outlook of the agencies further deteriorate the situation of companies, already in the throes of an upheaval
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