Aston Martin - comment

In response to equity sell-side downgrades, Lawrence Stroll has demonstrated his belief in the Aston Martin story by increasing his stake in Aston Martin from 24.7% to 26%. Our analysis makes us comfortable that the value of the marque is sufficient to cover the bonds as the marque will continue to be attractive to OEMs. Creating a long-term stand-alone niche manufacturer is a challenge as Aston will need to relentlessly execute successfully on new launches.