- • PSA Peugeot Citroën is changing a solicited rating agency
- • Banque PSA Finance will no longer solicit a rating, effective 2016
Further to a request for proposal process in 2015, PSA Peugeot Citroën has decided to solicit ratings from the two agencies Moody’s Investors Service and Fitch Ratings as from 2016.
Fitch Ratings, which rated the Group from 20031, is replacing Standard & Poor’s as a solicited agency. The ratings assigned by the Group’s two selected agencies are unchanged:
- - Ba3 with positive outlook from Moody’s Investors Service (since July 2015)
- - BB with stable outlook from Fitch Ratings (since August 2015
Furthermore, following the signature of a strategic partnership agreement between Banque PSA Finance and Santander Consumer Finance in 2014, Banque PSA Finance is conducting its business increasingly through joint ventures, for which the refinancing is arranged by Santander Consumer Finance.
Banque PSA Finance will cease operating on financial markets.
In consequence, the Group will no longer solicit any rating for Banque PSA Finance.
1 Fitch Ratings rated PSA Peugeot Citroën as an unsolicited agency during this period.