Moody's lowers FastenTech view to negative

Moody's Investors Service said it changed the outlook on the ratings for FastenTech, Inc. to negative from stable.

Concurrently, FastenTech's corporate family rating at B1, $175 million of senior subordinated notes due 2011 at Ba3 and B3 senior unsecured rating were affirmed.

The change in outlook to negative is based on Moody's concerns over the heightened risks posed by the company's recent acquisition activity, existing and projected negative free cash flow generation and Moody's concern that FastenTech's margin performance will remain under pressure over the near term due to a continued shift in sales mix away from higher margin aerospace-grade to lower margin specialized components.

Ba3 on the $170 senior secured revolving credit facility due 2010,

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