Bulletin: TRATON's Deleveraging Prospects Affected By The €880.5 Million Antitrust Fine Imposed On Scania - S&P Global Ratings’ Credit Research

Bulletin: TRATON's Deleveraging Prospects Affected By The €880.5 Million Antitrust Fine Imposed On Scania

Bulletin: TRATON's Deleveraging Prospects Affected By The €880.5 Million Antitrust Fine Imposed On Scania - S&P Global Ratings’ Credit Research
Bulletin: TRATON's Deleveraging Prospects Affected By The €880.5 Million Antitrust Fine Imposed On Scania
Published Feb 09, 2022
3 pages (1397 words) — Published Feb 09, 2022
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Abstract:

MILAN (S&P Global Ratings) Feb. 9, 2022--S&P Global Ratings today said that the €880.5 million antitrust fine imposed on Scania AB (publ.) by the European General Court will dim TRATON SE's deleveraging prospects. We consider Scania (BBB/Stable/A-2) to be a core subsidiary of TRATON (BBB/Stable/--), its 100% owner. Scania's accounts are fully consolidated in TRATON's. Following the antitrust fine news, we forecast that TRATON's funds from operations (FFO)-to-debt ratio, as adjusted by S&P Global Ratings, will remain slightly below 30% in 2022, compared with our former expectation of 31%-36%. The fine also limits TRATON's ability to improve adjusted FFO to debt to above 45% by the end of 2023, posing downside risk to TRATON's stand-alone creditworthiness, which we assess at

  
Report Type:

Bulletin

Issuer
TRATON SE
Sector
Global Issuers, Structured Finance
Country
Germany
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: TRATON's Deleveraging Prospects Affected By The €880.5 Million Antitrust Fine Imposed On Scania" Feb 09, 2022. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-TRATON-s-Deleveraging-Prospects-Affected-By-The-880-5-Million-Antitrust-Fine-Imposed-On-Scania-2793609>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: TRATON's Deleveraging Prospects Affected By The €880.5 Million Antitrust Fine Imposed On Scania Feb 09, 2022. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-TRATON-s-Deleveraging-Prospects-Affected-By-The-880-5-Million-Antitrust-Fine-Imposed-On-Scania-2793609>
  
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