S&P: Dana Holding view positive

Standard & Poor's said it affirmed its BB corporate credit rating on Dana Holding Corp. and revised the outlook to positive from stable.

S&P said the company's ratings reflect its "weak" business risk profile as a major supplier in the driveline segment of the highly competitive and volatile global light-vehicle and commercial-vehicle supply markets, and its "significant" financial risk profile.

"Our view of the financial risk profile is based on Dana's track record of free cash flow generation, which we believe is sustainable at current levels of production; the lack of any significant near-term debt maturities; and its manageable unfunded pension obligation," S&P credit analyst Nancy Messer said in a news release.

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