Fitch revises Dana view to negative

Fitch Ratings said it revised the outlook to negative from stable and affirmed Dana Inc.’s long-term issuer default rating at BB+.

The revision reflects Fitch’s concerns that a deeper or more prolonged downturn than currently envisioned could mean the company’s credit profile would be weaker than previously expected for an extended period, the agency said.

In addition, Fitch affirmed the company’s secured revolver, term loan A and term loan B ratings at BBB/RR1 and the BB+/RR4 ratings on the senior unsecured notes issued by Dana and its subsidiary Dana Financing Luxembourg Sarl.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.