...Dependence on parent's franchise and product cycles. Outlook: Stable S&P Global Ratings' stable outlook on France-based auto financer RCI Banque (RCI) incorporates our view that its financial profile will remain strong, with steady risk-adjusted profitability and continued conservative capital management over the next two years. It also reflects our stable outlook on Renault and our view that RCI will remain a core subsidiary of Renault over the next two years. We could consider a downgrade of RCI if Renault's creditworthiness came under pressure and RCI was unable to maintain its superior financial profile versus similarly rated peers. An upgrade of RCI would follow an upgrade of Renault, because we view the bank as a core subsidiary of the carmaker. We believe such a scenario is unlikely in the next two years. Additionally, raising our long-term rating on RCI, based on its own merits, would necessitate an upward revision of its stand-alone credit profile (SACP) by more than one notch....
