Leading positions in Europe and South America as a manufacturer of heavy trucks and buses. An up-to-date product range and the highest degree of component commonality in the global truck industry. Expected high profitability ratios over the economic cycle. Operations in industries with high volatility and capital intensity. Emerging challenges and opportunities in electrification, autonomous driving, and digital disruptions. A conservative financial policy and robust credit metrics. Strong liquidity and the ability to generate solid free cash flow. Our expectation of continued strong credit ratios, with funds from operations to debt above 100% in 2017 and 2018. Substantial debt related to its financial services business. S&P Global Ratings' stable outlook on Scania AB (publ.) reflects the outlook on its parent
