Lates News

Standard & Poor's Global Ratings downgraded Zhejiang Geely Holding Group Co., Ltd. and its subsidiary Geely Automobile Holdings Limited's credit outlook from stable to negative on May 30, 2025. The rating agency confirmed the long-term issuer credit rating of "BBB-" for both companies. This downgrade was mainly due to the profitability pressure faced by Volvo Car AB, a major subsidiary of Zhejiang Geely. Sina Technology reached out to Geely for confirmation but the company declined to comment. (Sina Technology)