CRIF Ratings upgrades Ferrari’s Unsolicited Long-Term Issuer Rating to BBB+ the Outlook is ‘Stable’

CRIF Ratings has upgraded Ferrari S.p.A.’s Long-Term Issuer Rating to BBB+ with a Stable Outlook from BBB/Positive Outlook. Ferrari is a leading manufacturer of luxury performance cars, with 8,398 cars sold and consolidated revenues of EUR 3.4bn in FY17. The rating analysis has been performed on Ferrari’s consolidated perimeter including the parent company Ferrari NV (‘FNV’). The rating has been assigned by CRIF on an unsolicited basis, without participation of the rated entity and relying only on publicly available information.

The rating upgrade reflects Ferrari’s continued sound operating performance and cash flow generation, which translated into a confirmation of its deleveraging trend.

For more information, visit crifratings.com