S&P: Federal-Mogul view now stable

S&P said it revised its outlook on Federal-Mogul Holdings Corp. to stable from negative.

All other ratings on the company are unchanged.

S&P said it revised the outlook to stable from negative due to lower debt leverage and stronger-than-expected cash flows. Federal-Mogul has focused on integrating its global distribution footprint and has worked to manage inventory and receivables more effectively. Operational efficiencies improved margins, with better original equipment sales offsetting lower aftermarket demand.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.