Post Tagged with: "Banque PSA Finance"

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Banque PSA Finance Downgraded by Moody’s

Banque PSA Finance Downgraded by Moody’s

Moody’s Investors Service downgraded Banque PSA Finance to one level below the investment grade. Today, April 16th, Moody’s announced that PSA Peugeot Citroen’s bank, Banque PSA Finance, was downgraded one step from Ba1 to Baa3. The outlook is stable which means that the rating will not be reduced again any […]

EU Challenges PSA Banque Finance Rescue

EU Challenges PSA Banque Finance Rescue

The EU is challenging the terms of the debt rescue for Banque PSA Finance offered by the French government. According to Les Echoes newspaper, EU Competition Commissioner Joaquin Almunia sent a letter to the French government in which it accuses the state of orchestrating refinancing of PSA Peugeot Citroen’s financing […]

French government names former EADS boss to Peugeot board

French government names former EADS boss to Peugeot board

PSA Peugeot Citroen appointed a senior government adviser and former head of EADS to its supervisory board. Europe’s second-largest carmaker accepted the appointment in exchange for a state-backed bailout. The Peugeot board agreed to submit the nomination of Louis Gallois to the annual shareholder meeting in April, the company announced […]

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Talks of a tie-up between Peugeot and Opel reportedly dropped

Talks of a tie-up between Peugeot and Opel reportedly dropped

General Motors and PSA Peugeot Citroen have halted talks on further integration amid doubts about the French carmaker’s worsening finances and government-backed bailout. According to people familiar with the matter quoted by Reuters, the companies, already pursuing an operational partnership announced in February, had also been considering a full combination […]

VW’s Shareholder Opposes French Gov. Aid to Banque PSA Finance

VW’s Shareholder Opposes French Gov. Aid to Banque PSA Finance

VW’s second-largest shareholder, the German state of Lower Saxony, opposes France’s government aid for PSA Peugeot-Citroen’s Banque PSA Finance. “VW and Lower Saxony see these state loans very critically because they won’t help solve the problems that certain European states have with their automotive industry,” said David McAllister, Lower Saxony’s […]

France Helps Peugeot Under Certain Conditions

France Helps Peugeot Under Certain Conditions

The French government will offer PSA Peugeot Citroen a lending bailout if it guarantees plants and reduces job cuts. Last week French Finance Ministry and national banks were trying to find solutions to rescue Banque PSA Finance, which is under the threat of being downgraded to junk status. After Moody’s […]