The Negative Outlook reflects the challenging business climate in 2024 and the dim outlook for 2025. A very strong financial risk profile is the key support. The ratings have been converted into unsolicited public ratings for business reasons.

The rating upgrade reflects the positive impact of structurally higher profitability on the business risk profile combined with an even stronger financial risk profile.

The rating action reflects the positive impact of potentially structurally higher profitability on the business risk profile, combined with the continuously strong financial risk profile.

The affirmation reflects Daimler’s strong financial risk profile and Scope’s unchanged assessment of its business risk profile.

The affirmation reflects the strong financial risk profile and the unchanged assessment of the business risk profile.

The affirmation reflects our view that the ratings continue to be supported by the strong financial risk profile with an unchanged assessment of the business risk.

The short-term rating is S-1. The outlook is Stable. The senior unsecured debt issued by either Daimler AG or its financing subsidiaries is rated A.

The first-time ratings for Daimler AG, its financing subsidiaries, and senior unsecured debt are driven by Scope’s view on the credit-supportive market positions held by the group’s key divisions of cars and trucks, and strong financial risk profile.