...March 15, 2021 - We have received additional information on how TRATON SE intends to fund its industrial and financial services businesses in second-half 2021 after the expected closing of the Navistar acquisition. - TRATON's updated financing plans will materially reduce the currently high structural subordination in its capital structure. - As a result, TRATON's priority debt is likely to decline towards 50% or below before year-end 2021, from about 90% currently. - We are therefore raising our issue rating on TRATON's new senior unsecured 12 billion euro medium-term note program by one notch to '###'. MILAN (S&P Global Ratings) March 15, 2021--S&P Global Ratings today raised its issue rating on TRATON SE's (###/Negative/--) new senior unsecured 12 billion euro medium-term note (EMTN) program to '###' from '###-'. The upgrade reflects our belief that the ratio of priority debt in the group's capital structure is likely to decline towards 50% or below in the next six to nine months. Notwithstanding...
