Moody’s upgrades Bridgestone debt rating

London–Moody’s Investors Service has upgraded Bridgestone Corp.’s senior unsecured rating to A3 from Baa2. The agency says it believes the outlook for this rating is stable.

In its note, Moody’s said, “The rating action reflects Moody’s increasing confidence that Bridgestone’s overall earnings and cash flow-generating ability will continue to improve, supported by its solid position in the Japanese tire market as well as an earnings recovery in Bridgestone Americas (BSA) … and the improved profitability in Bridgestone Europe (BSEU) because of strong sales of its high…

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