S&P upgrades Renault to investment grade

Credit rating agency Standard and Poor's upgraded Renault on Wednesday to investment grade due to the French carmaker's improving financial health and profitability. S&P said it had lifted its rating on the company to BBB-, the lowest level on its scale considered as investment grade, from BB+. "The upgrade reflects our view that Renault will maintain strong credit ratios in the next two years and gradually improve the profitability of its core automotive division," S&