The Volvo Group has continual meetings with the credit rating agencies Moody’s and Standard & Poor’s (S&P) to update them on the company’s development. These meetings contribute to the credit rating agencies’ ability to assess the Group’s future ability to repay loans. A high long-term credit rating provides access to additional sources of financing and lower borrowing costs.
In April, 2011, S&P changed Volvo’s credit rating from BBB-/Baa3 with stable outlook to BBB/Baa2 with stable outlook. The change was attributable to a change in Volvo’s credit measurement.
Moody’s rating of Volvo is BBB/Baa2 with stable outlook since July 24, 2009.