Automotive companies navigating cash flow challenges could face additional risks as the Iran war prompts concerns regarding the ability for corporate bond issuers to service debt and higher oil prices squeeze consumer demand. Fitch Ratings on April 2 downgraded American Honda Finance Corp.’s long-term issuer default rating to A- from A in tandem with the same downgrade of its parent company Honda Motor Co. with a negative outlook. The downgrade was largely driven by Honda’s EV-related losses, costs associated with […]
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