S&P: Lear cut to negative

Standard & Poor's said it revised its outlook on Lear Corp. to negative from stable and affirmed the BBB- corporate credit rating on the company.

S&P also affirmed Lear's BBB- senior unsecured debt rating.

S&P said the outlook revision reflects concerns about Lear's credit protection measures, which will weaken during 2005 because of a sharp fall in the company's earnings and cash flow driven by harsh industry conditions.

© 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.