Frankfurt am Main, August 14, 2014 -- Moody's Investors Service, (Moody's) today affirmed the Baa3 long-term issuer rating for Valeo S.A. (Valeo). At the same time the rating agency affirmed the Baa3 rating assigned to the company's EUR1,120 million senior notes due in 2017, 2018 and 2024, the ratings on the company's EUR2 billion Euro Medium Term Note Programme ((P)Baa3 for unsubordinated notes and (P)Ba1 for subordinated notes) and the Prime-3 Commercial Paper rating of Valeo. The outlook has been changed to positive from stable.

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