Moody’s rates Dana notes B2

Moody’s Investors Service said it assigned a B2 rating to Dana Inc.’s new $300 million senior unsecured notes.

Proceeds from the notes and cash on hand, are expected to be used to fund the tender of the company’s existing $300 million senior unsecured notes due 2023 and pay related fees and expenses.

All other ratings of Dana’s debt are unaffected.

The outlook is stable.

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