Moody's shifts Motherson view to stable

Moody's Investors Service said it affirmed the Ba1 corporate family rating on Motherson Sumi Systems Ltd. and changed the outlook to stable from negative.

"The rating affirmation and outlook change to stable reflect the sustainable recovery in Motherson's revenue and profitability from the trough during the coronavirus pandemic in the first quarter of the fiscal year ending March 2021. We expect the company to sustain the recovery over the upcoming 12 to 18 months, strengthening its credit metrics, in particular, debt/EBITDA leverage tracking below 3x," said Kaustubh Chaubal a Moody's vice president and senior credit officer, in a press release.

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