Moody’s eyes Delphi for upgrade

Moody’s Investors Service said it placed Delphi Technologies plc’s ratings on review for upgrade including the corporate family and the probability of default ratings at B2 and B2-PD, respectively and senior unsecured rating at B3.

The agency also revised the speculative grade liquidity rating to SGL-2 from SGL-3.

“The review takes into account the progress in BorgWarner Inc.’s (BorgWarner) planned acquisition of Delphi, as well as the increasing likelihood that BorgWarner will take on at least some of Delphi’s senior unsecured debt as its own obligation,” Moody’s said in a press release.

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