Moody's ups Daimler to stable

Moody's Investors Service said it changed the outlook to stable from negative on the A3 long-term issuer rating of Daimler AG.

The agency also said it affirmed the rating.

The stabilization of Daimler's outlook reflects the stronger-than-anticipated recovery in the group's operating performance and cash flow generation in 2010, Moody's said.

In 2010, Daimler's operating performance and credit metrics demonstrated material improvements from the weak levels achieved in 2009 and 2008 as a result of strengthening industry volumes and realized cost savings, the agency said.

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