Low Miles Exceptional Condition Great Options! on 2040-cars

Auto blog

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.

2018 Aston Martin Vantage Drivers' Notes Review | English style, German heart

Editor-in-Chief Greg Migliore — The Vantage continues Aston Martin's evolution as a modern sports- and supercar maker. This machine feels special. It's gorgeous and translates Aston's design language effectively. It sounds intoxicating. I blasted around Detroit's sleepy suburbs one chilly night and felt a bit like James Bond. The AMG-sourced V8 is well-calibrated and works smoothly with the eight-speed automatic. Pulling the paddles is obviously fun. The steering returned proper feedback with adequate weight. The chassis is tight but not abusive. Considering the Vantage has so much power and technical prowess, it's still imminently drivable. I was comfortable almost immediately, and it's the kind of car that left me feeling satisfied and wanting more. That's the essence of Aston. Senior Editor, Green, John Beltz Synder — The V8 Vantage holds a special place in my heart, and my heart was beating faster just looking at it in our parking lot. It's a gorgeous car, and it stands up to close inspection. I love the detail, the colors, the look of the materials and how they accentuate the car's design. That attention to detail is even more pronounced inside the car, where there's something interesting going on everywhere you look, including the headliner. Driving the car is a lot calmer than you might expect. Yeah, it's fast and a bit stiff, but not jarringly so. The AMG V8 and eight-speed transmission work wonders together. The acceleration is smooth and linear, with shifts happening in an instant, and without drama. Plus, I love the giant paddle shifters mounted on the steering column. They're thin, but extremely long, and they're always right where you expect them to be when you reach out with your finger. There were just a couple things that stood out to me as imperfect. On the infotainment interface on the center tunnel, the control wheel is tucked away, which helps keep you from accidentally bumping it, but makes it a little awkward to use. The other thing was that the whole driver seat moved around underneath me. I'm sure Aston saved some weight with these seats, but this didn't feel very securely attached to the floor. I forgot about both of those things as I found my way out of traffic and onto some curvy roads. This thing builds and carries a ton of speed with ease. And as good as it looks in its natural state of motion, this car was turning heads — and cellphones — when prowling through the parking lot.

Aston Martin Valkyrie AMR Pro | Screaming Viking from the Valhalla of speed

This summer, two years after Aston Martin debuted the 800-horsepower, track-only Vulcan, the English carmaker unveiled the harder, faster, more-aero-focused Vulcan AMR Pro. We still haven't seen the final version of the road-ready Valkyrie, but as of right now we know Aston Martin's 's how-fast-can-you-go roadworthy jewel will get a track-only Valkyrie AMR Pro flavor. Detailed specifics will need to wait, but we're told to expect lap times rivaling "recent Formula One cars." For perspective, insider trading on the Valkyrie road car suggests 1,130 horsepower and a 2,270-pound curb weight. A naturally aspirated, 6.5-liter V12 takes credit for most of those horses, the remainder coming from a Rimac-developed, F1-style kinetic energy recovery system. Yes, that Rimac. The Valkyrie AMR Pro will send owners to a g-force-induced Valhalla, having more power, less weight, and "significantly increased downforce." The designers used a lighter grade of carbon fiber, replaced the windscreen and side windows with polycarbonate, traded for a lighter, molded racing seat, threw out the infotainment system, installed carbon fiber wishbones on the new suspension uprights, and bolted on smaller, 18-inch wheels that will fit the same Michelin tires used on LMP1 cars. Beyond larger front and rear wings and new programming for the active aerodynamics, Adrian Newey's team tweaked every aero surface. Powering all that with a lustier, remapped 6.5-liter V12, Red Bull simulations show the Valkyrie AMR Pro capable of close to 250 miles per hour. Sustained cornering forces should hit 3.3g. Thanks to F1-style carbon brakes, deceleration force tops 3.5g. Here's more perspective: the Telegraph spoke to Red Bull F1 in 2010 about in-car g-forces, and wrote, "Breath control is crucial — you cannot breathe freely above 3g because to do so would expose you to the risk of passing out." Since those numbers hint at something like ground-based flying, Aston Martin has sensibly organized a ground-based flight school. Owners will get "an intensive and comprehensive driver development program" that takes advantage of the same facilities and simulator used by Aston Martin Red Bull Racing F1. Fitness training comes with it. If you haven't signed the paperwork for a Valkyrie AMR Pro, you're too late. Twenty-five examples — one more than the Vulcan AMR Pro — will be produced, with expected delivery in 2020, and all are sold. Related Video: