Moody's ups Dana

Moody's Investors Service said it upgraded all existing long-term ratings for Dana Corp. and Dana Credit Corp. and confirmed the company's SGL-2 speculative grade liquidity rating.

Moody's upped Dana's $400 million senior unsecured revolving credit facility, $2.2 billion senior unsecured notes, medium-term notes, senior implied rating and senior unsecured issuer rating to Ba2 from Ba3.

Moody's said the rating upgrades incorporate Moody's belief that Dana is increasingly focused on the generation of organic growth of core operations and realization of sustainable improvements in operating fundamentals.

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