Fitch upgrades Faurecia to 'BB+' with stable outlook
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Fitch Ratings has upgraded Faurecia S.A.'s Long-Term Issuer Default Rating (IDR) and senior unsecured debt to 'BB+' from 'BB'. The Outlook on the Long-Term IDR is Stable.
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The rating action reflects the improved and better-than-expected earnings and underlying cash generation of Faurecia, which positions the French auto supplier at the high-end of the 'BB' category, according to Fitch's revised Rating Navigator for auto suppliers.
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