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 performance tires."
This is an external link and should open in a new window. ERJ is not responsible for the content of external sites.
Website of Moody's Investor Services
Research note from Moody's (Requires free registration at Moodys.com)