This is very exposed under the back of the car, and one of the few (the only) place you may find rust on a 1007.
The metal sections can corrode so worthy of checking and restoring on a pleasant summer day, unless you wish to get the spare wheel out of a corrroded tray on a cold, wet and windy winter evening.
Easy to remove and the car doesn't need to be lifted. Once lowered and the spare wheel removed just squeeze the front arms together to dislodge from holes.
New bolts are cheap. Once the hook bit has been removed, just pull the bolt upwards and out. Note that if the bolt is in poor condition then the cradle is probably very rusty too.
This one, on my 90,000 mile yellow car - is OK but the thread could do with some cleaning up and maybe rust protection on the metalwork.