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Aston Martin Valkyrie does a tantalizing lap of Silverstone

The Aston Martin Valkyrie performed a low-level fly-by at Britain's Silverstone Circuit during the Formula One Grand Prix weekend. The lap marked the first public demonstration of the future paterfamilias of the Aston Martin range, after months of digital modeling and time in the simulator. Aston Martin test driver Chris Goodwin didn't drive the 1,160-horsepower coupe in anger, but he did touch the throttle with some emotion. Regrettably, video of the event lays music over the far more redeeming Cosworth V12 soundtrack, but we do get a taste of what's to come. Thing is, "Top Gear" visited Cosworth in December last year to get some face time with the 6.5-liter V12. Toward the end of the video, Cosworth ran an engine dyno simulation of the V12 going hard through the first sections of Silverstone. Oh, the sound. Oh, the fury. Combine that with the sight of the car cruising the circuit, and know that something wicked this way comes.  If you want to know just how serious the team behind the Valkyrie takes the brief, presenter Jack Rix said Red Bull F1 aerodynamics guru Adrian Newey stopped by the shop to look at the finished product, after two years of development. Newey tapped the lacquered carbon fiber intake manifold cover, then asked Cosworth how much the lacquer weighed. When Cosworth told him "130 grams," Newey looked disappointed. That response turned into offering Valkyrie buyers the option of having the engine's carbon cover with or without lacquer. In American terms, this is much ado over 4.6 ounces, or a McDonald's Royale with Cheese.   With deliveries scheduled to begin in the fourth quarter of this year, Aston Martin has a packed program of validation testing for the car, called Verification Prototype 1. After that come competition entries into the FIA World Endurance Championship (WEC).

Aston Martin Valkyrie | Autoblog Minute

Aston Martin has been teasing the Valkyrie hypercar off and on the last couple of years, first as the RB-001, and now with its official name, and it has just released images and information of the most production-ready variant yet. Aston Martin Autoblog Minute Videos Original Video

Bond, junk bond? Aston Martin financial ratings go south as it awaits DBX

Ratings agencies Standard & Poor's and Moody's have taken a dim view of Aston Martin Lagonda. S&P cut its credit rating on the storied carmaker deeper into junk territory this week, and Moody's revised its credit outlook to "negative" after the company raised $150 million in debt from a bond issue at 12% interest, with the option to raise another $100 million at 15%. The Standard & Poor's rating was trimmed by one notch to 'CCC+', which reflects substantial risks and takes it close to default territory after a faster-than-expected cash burn this year. The outlook is negative.  The negative outlook reflects ongoing pressure on profits, a high cash burn, and very high leverage in the face of heightened risks linked to a potential no-deal Brexit and new tariffs on car imports threatened by the United States. The potential salvation for the company is its new DBX luxury SUV, the success of which is critical to its ambitious growth strategy and ongoing creditworthiness, S&P said. But Moody's noted that it's burning cash at a high rate as it nears the launch of the DBX. The British carmaker, known as James Bond's favorite marque, has been hit by falling demand in Europe, the Middle East and Africa. It slumped to a first-half loss in July. Chief Executive Andy Palmer said concerns around Brexit and U.S.-China trade relations were skewing the outlook to the downside, so it was prudent to address investor concerns about its balance sheet. "Taking this debt on — short-term debt — is we think the correct tool to completely remove that thesis that we don't have sufficient liquidity," he told Reuters. "In every substantial and material way, this ensures that we can get through to DBX in spite of what all of those global uncertainties might throw at us." The main tranche comprises notes with an interest rate of 12% due in 2022, while the additional notes could be issued under the same terms if permitted, or could be issued as unsecured notes with an interest rate of 15%, Aston Martin said. Shares of stock in the company, which have had a precipitous fall since they listed in London in October 2018 at 19 pounds, were trading down 5% at 545 pence in early deals. Broker AJ Bell said Aston Martin was known for its high end prices and that situation now also applied to its debt. "These rates are very high and are a major red flag that investors consider the car company to be a high risk entity," it said.