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00175 GEELY AUTO
RTNominal unchange8.910 0.000 (0.000%)
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15/07/2019 14:33

Geely Auto's 'BBB-' rating affirmed, outlook stable - S&P

[ET Net News Agency, 15 July 2019] S&P Global Ratings has affirmed its 'BBB-' long-term
issuer credit rating on Geely Automobile Holdings Ltd (00175). It also affirmed its 'BBB-'
long-term issue rating on the USD bonds that Geely issued.
The credit rating agency expects Geely's sales and profit to recover moderately from
2020 after a setback in 2019.
It thinks the China-based automaker will stay in a net cash position, while its parent
Zhejiang Geely Holding Group Co. Ltd. (Zhejiang Geely Holding) will maintain modest
leverage supported by solid operating cash flows.
The stable outlook reflects S&P's expectation that Zhejiang Geely Holding will continue
to maintain or moderately strengthen its market position in the Chinese and global auto
market while maintaining a modest leverage. (KL)

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