Moody's lowers Aptiv view to stable

Moody's Investors Service said it affirmed the senior unsecured ratings of Aptiv plc at Baa2 and revised the outlook to stable from negative.

The agency also affirmed Delphi Corp.'s senior unsecured regular bond rating at Baa2 and revised its outlook to stable from negative.

The ratings and stable outlook consider expectations that Aptiv will sustain financial policies of low leverage and strong liquidity needed to balance the high cyclicality and capital intensity risks as an auto supplier, Moody's said.

Aptiv has a strong competitive profile as an auto supplier and its portfolio is likely to experience increasing vehicle content penetration, the agency said.

The company also benefits from a well-balanced geographic revenue diversity and moderate customer concentrations, Moody's said.

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