S&P raises Dana

Standard & Poor's said it raised its corporate credit rating on Dana Holding Corp. to B+ from B.

At the same time, the agency said it raised its ratings on Dana's senior secured debt.

The outlook is stable.

"The upgrade reflects its assumption that Dana's recent earnings and cash flow improvements are sustainable in 2010 and beyond despite its expectation for continuing weak light and commercial vehicle auto production," said S&P credit analyst Nancy Messer.

Dana's earnings and cash flow for the 12 months ended March 31 were better than expected, the agency added.

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