...July 27, 2021 - Global carmaker Daimler AG's adjusted free operating cash flow (FOCF) for first-half 2021 of close to 4.0 billion significantly exceeded our base case, and we now forecast it will be about 6.0 billion-7.5 billion for the full year, compared with 4.0 billion-6.0 billion previously. - The group also announced an acceleration of its strategy to move to electric vehicles (EVs) and additional investments in its EV product portfolio and supply chain, which we think could strengthen its competitive position over time. - We expect that favorable near-term evolution of pricing and the model mix as well as continued cost optimization should enable Daimler to achieve and maintain cash conversion in line with our expectations for an 'A-' rating, despite its EV investments and supply chain challenges clouding the volume outlook for second-half 2021. - We therefore raised our long-term issuer credit and issue ratings on Daimler and its debt to 'A-' from '###+', and affirmed our 'A-2'...
