GILLINGHAM, England, Feb. 2, 2017 /PRNewswire/ -- Rating agency Moody's Investors Service today upgraded its corporate credit rating for Delphi Automotive PLC (NYSE: DLPH) to Baa2 from Baa3, with a stable outlook. Moody's states the upgrade of Delphi Automotive's ratings to Baa2 recognizes the company's strong competitive position as an automotive supplier with increasing content per vehicle, strong credit metrics and disciplined financial policies.
"This upgrade affirms that our strategic priorities of disciplined revenue growth, cost structure optimization, increased cash flow and capital allocation policy are delivering for shareholders," said Kevin Clark, Delphi president and chief executive officer.
Delphi Automotive PLC (NYSE: DLPH) is a high-technology company that integrates safer, greener and more connected solutions for the automotive and transportation sectors. Headquartered in Gillingham, U.K., Delphi operates technical centers, manufacturing sites and customer support services in 46 countries. Visit delphi.com.
This press release, as well as other statements made by Delphi Automotive PLC (the "Company"), contain forward-looking statements that reflect, when made, the Company's current views with respect to current events and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company's operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company's strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.
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SOURCE Delphi Automotive PLC