Debt and rating
Valeo’s balanced debt profile and solid liquidity position give it a robust financial structure.
Debt maturity profile
As of December 31, 2025, the average maturity of Valeo’s debt was 3.4 years.
EMTN Program (bonds)
| Type | Final terms at | Maturity | Outstanding amount | Coupon | Prospectus and supplements |
|---|---|---|---|---|---|
| EMTN (SLB) | 07/30/2021 | August 2028 | €700m | 1.00% | 2021 & n°1 |
| EMTN (Green Bond) | 10/10/2023 | April 2029 | €600m | 5.875% | 2023 & n°1 |
| EMTN (Green Bond) | 04/09/2024 | April 2030 | €850m | 4.50% | 2023 & n°1, n°2 |
| EMTN (Green Bond) | 05/16/2025 | May 2031 | €650m | 5.125% | 2024 & n°1, n°2, n°3, n°4, n°5 |
| EMTN (Green Bond) | 09/19/2025 | March 2032 | €500m | 4.625% | 2025 |
| EMTN (Bond) | 06/01/2026 | February 2033 | €600m | 4.875% | 2025 & n°1 |
| EMTN | 2026 |
Green and sustainable financing
July 2021
September 2023
April 2024
December 2024
April 2025
December 2025
April 2026
Detail of short-term financing
Bank credit lines
Valeo has access to liquidity through confirmed bank credit lines with a weighted average maturity of 2.6 years as of December 31, 2025, representing an aggregate amount of 1.6 billion euros.
Commercial paper
Valeo has access to liquidity through a short-term commercial paper financing program for a maximum amount of 2.5 billion euros.
Credit rating
Moody’s
On September 26, 2024, Moody’s Ratings (Moody’s) agency revised its long-term issuer rating of Valeo from “Baa3” to “Ba1” and its short-term commercial paper rating from “Prime-3” to “Non-Prime”. The outlook is negative.
On August 27, 2026 Moody’s Ratings (Moody’s) affirmed the Ba1 corporate family rating (CFR) and Ba1-PD probability of default rating (PDR) of French automotive parts supplier Valeo SE (Valeo or the company). Concurrently, the agency affirmed Valeo’s Ba1 senior unsecured ratings, the provisional (P)Ba1 rating of its senior unsecured Medium-Term Note (MTN) program and the Not Prime (NP) commercial paper rating. The outlook has been changed to stable from negative.
S&P Global
On March 13, 2025, Standard & Poor’s revised its long-term issuer rating of Valeo from “BB+” to “BB” with a “stable” outlook.
On August 5, 2026 S&P Global revised Valeo S.E.’s outlook from stable to positive on improving profitability and cash flow and affirmed BB Rating.
