S&P cuts Federal-Mogul view to negative

Standard & Poor’s said it revised its outlook on Federal-Mogul Holdings Corp. to negative from stable.

All other ratings on the company remain unchanged.

“Federal-Mogul has continued to adjust its global distribution footprint, integrate its recent acquisitions, invest in IT systems, and rebuild some of its brands,” said S&P credit analyst Lawrence Orlowski, in a news release. “Nevertheless, we believe that the company’s key credit metrics in 2016 will be worse than we had expected, which, in our view, raises risks related to the pace of the company’s restructuring activities.”

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