Moody’s warns of €11bn in fines for carmakers
Fines of up to €11.2bn could be on the way for European carmakers due to emissions regulations, according to a report by Moody’s. And the debt markets are not impressed by additional gloom the new rules give the embattled auto industry.
“We’ve seen substantial widening,” said one banker. “The obvious ones are the German names. For instance, BMW is A1/A+ rated and you would typically think that a company with that credit rating would trade tighter than it does.”The banker added: “There is a certain element of negativity towards ...
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