S&P lowers ATU outlook

Standard & Poor's said it revised its outlook on ATU Auto-Teile Unger Handels GmbH & Co. KG to negative from stable.

At the same time, the agency said it affirmed the B- long-term corporate credit rating on ATU.

S&P said the outlook revision reflects its view that ATU's liquidity is now "less than adequate."

According to S&P, ATU suffered from unusually mild weather conditions in the first and fourth quarters of last year, resulting in a significantly lower reported cash position at year-end 2011 compared with previous years. As a result, the company's financial flexibility to fund its ongoing operations has tightened.

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