Our other sites
Today's newsletter | Register | Subscribe | Feedback

Aston Martin loses grip as sales slide

By PRW Staff
Posted 3 December 2012

Rating agency Moody’s has downgraded Aston Martin. The luxury car making is heading towards ‘junk’ status, observers warned.

“The review was prompted by a significant deterioration in Aston Martin’s liquidity profile as per end September 2012, caused by a much weaker cash generation and operating performance in the third quarter,” said Moody’s analyst Falk Frey in the statement.

The ratings agency added that if the debt-burdened company is unable to improve its liquidity by Christmas it could result in a serious downgrade “that might not be limited to one notch”.

There is, however, potential good news for the James Bond car company – two possible investors are understood to be vying for a 40% stake in the firm – India’s automotive company Mahindra & Mahindra and Italian private equity fund Investindustrial.

The firm’s owners – a consortium fronted by Kuwaiti group Investment Dar – purchased Aston Martin in 2007 for £479m. However, recent trading has been poor; for the first nine months of 2012 the company’s revenue was £305m, down 219%, principally as a result of a 20% slump in sales.

[ Back ]


Site Index [ + ]
Site Index [ - ]
Home:  PRW.com | Contact editorial | Contact advertising | Features List 2015 | About us
End Markets:  Automotive | Packaging | Construction | Medical | Consumer Products | Rubber
Processes:  Injection moulding | Blow moulding | Extrusion | Thermoforming
Supplier News:  Machinery | Materials | Recycling | Moulds | Design
Polymer Prices:  LME prices | Market outlooks | Resin selector
Industry Issues:  Environment | Regulation Competitiveness
Plastics Knowledge:  Knowledge Bank
Comment:  Champ Chat | Editorials | Business features
People:  Movers & Shakers
PRW Business Directory:  Directory
Classifieds:  Jobs | Classifieds
View:  Mobile | Desktop
Our Events:  PDM | Conferences
Industry Awards:  Industry Awards
Diary: Diary
Advertise with PRW
Subscribe:  PRW print | E-mail products
Reprints:  Reprints
List Rental:  List Rental
Crain Communications:  Crain Communications | Crain Publications

Entire contents copyright 2015 by Crain Communications Inc.
Plastics & Rubber Weekly and PRW.com are published by Crain Communications Ltd (registered in England & Wales No. 01576350).
Registered Office: 100 New Bridge Street, London, EC4V 6JA, United Kingdom.