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Moody’s changes Hella view to negative
Moody's Investors Service said it changed the view on Hella GmbH & Co. KGaA to negative from stable, citing the overall negative environment for European automotive parts suppliers.
The agency believes the company will be challenged to sustain debt/EBITDA in the range of 1.0x-2.0x (Moody’s adjusted) and margins at a level of at 6.5% (Moody’s adjusted EBITDA).
Moody’s affirmed Hella’s long-term issuer and senior unsecured ratings at Baa1.
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