Moody's: Dana view to positive

Moody's Investors Service said it revised the outlook of Dana Holding Corp. to positive from stable and affirmed its corporate family and probability of default ratings at B3, senior secured asset-based revolving credit facility rating at Ba3, senior secured term loan rating at B1 and speculative grade liquidity rating at SGL-2.

The positive outlook incorporates a view that Dana's improved operating performance in first quarter of 2010 is sustainable over the near term, Moody's said.

Announced spending for additional restructuring actions should further improve the company's operating performance and credit metrics into 2011, the agency said.

The company's financial flexibility also is aided by a strong cash position, Moody's added.

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