Standard & Poor's and Moody's affirm Investment Grade Ratings for Yanfeng Automotive Interiors at 'BBB-'and 'Baa3'
Standard & Poor's and Moody's affirm Investment Grade Ratings for Yanfeng Automotive Interiors at 'BBB-'and 'Baa3'
SHANGHAI, March 19, 2018 /PRNewswire/ -- Yanfeng Global Automotive Interior Systems Co, Ltd. (YFAI) today announced that S&P Global Ratings (Standard and Poor's) and Moody's Investors Service (Moody's), affirm their credit ratings of 'BBB-' and 'Baa3' both with a stable outlook. Moody's affirmed their investment grade rating on February 8, 2018 and S&P on March 7, 2018. The ratings are subject to continuous review by both agencies.
Standard & Poor's has affirmed YFAI's long-term corporate rating of BBB- with a stable outlook. This is the second year that S&P has rated the company investment grade.
Moody's Investors Service has continued to assign a Baa3 issuer rating with a stable outlook.
"We are pleased that both S&P and Moody's affirmed their ratings of YFAI with investment grade status," said Johannes Roters, CEO of Yanfeng Automotive Interiors. "This enables YFAI to ensure we are able to execute our strategic vision and priorities, as well as continue to develop and invest in new capabilities driving our business forward."
"We believe these ratings are a testament to our team's performance, efficiency and the execution of our strategy," said Michael Kleinheksel, CFO YFAI, "All of these further underscore Yanfeng Automotive Interiors' position as an industry leader."
About Yanfeng Automotive Interiors:
Yanfeng Automotive Interiors (YFAI) is the global leader in automotive interiors. Yanfeng Automotive Interiors is redefining how people relax, work and play inside their vehicle interiors - today and decades from now. Headquartered in Shanghai, the company has approximately 110 manufacturing plants and technical centers in 20 countries and more than 33,000 employees globally. They design, develop and manufacture automotive interior components for all automakers. Established in 2015, Yanfeng Automotive Interiors is a joint venture between Yanfeng, one of the largest automotive suppliers in China and Adient, the global leader in automotive seating. For additional information, please visit http://www.yfai.com.
CONTACT: Debra Ortisi, debra.ortisi@yfai.com, +1 248 319 7017
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SOURCE Yanfeng Automotive Interiors
