Stellantis N.V.: Rating Report

On January 24, 2025, DBRS Limited (Morningstar DBRS) changed the trends on Stellantis N.V.'s (Stellantis or the Company) Issuer Rating and Senior Unsecured Debt credit rating to Negative from Stable and confirmed the credit ratings at BBB (high). Concurrently, Morningstar DBRS changed the trend on Stellantis subsidiary Stellantis Finance US Inc.'s (Stellantis Finance US) Senior Unsecured Debt credit rating to Negative from Stable and confirmed the credit rating at BBB (high); the credit rating equivalency is based on the guarantee provided by Stellantis in support of Stellantis Finance US' Senior Unsecured Debt.