S&P: Federal-Mogul unchanged

Standard & Poor's said that Federal-Mogul Corp.'s (B+/stable) announcement that it has retained a financial advisor to assist it in evaluating strategic alternatives to enhance shareholder value does not immediately affect its ratings.

S&P said Federal Mogul has a weak business risk profile as a participant in the highly competitive and volatile auto industry and aggressive leverage.

The company has little room for additional leverage because pension and lease adjusted leverage reached 6.0 times as of Dec. 31, the agency added.

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