Renault’s outlook cut to ‘negative’ by rating agency Standard & Poor’s

Credit rating agency Standard & Poor’s slashed its outlook on automaker Renault to “negative” from “stable”, citing wider challenges within the automotive sector that could affect its profits.

“The negative outlook reflects the risk that Renault will be unable to return its EBITDA margin to 2017 levels (9%-10%) over the next two years given the numerous headwinds in the global automotive industry and company-specific problems that could decrease its operating profit generation for a sustained period,” S&P Global Ratings wrote in a note.