Moody's cuts UCI to B3, loans to Ba3, notes to Caa1

Moody's Investors Service said it lowered UCI International, Inc.'s corporate family and probability of default ratings to B3 and B3-PD, from B2 and B2-PD, respectively.

UCI is the parent of United Components, Inc.

In a related action, the agency lowered the ratings on UCI's senior secured bank credit facilities to Ba3 from Ba2 and senior unsecured note to Caa1 from B3.

The outlook was changed to negative from stable.

Moody's said the lowering of UCI's corporate family rating to B3 reflects the deterioration in financial performance and credit metrics amid pressures in the automotive aftermarkets industry.

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