Moody's lowers Visteon

Moody's Investors Service said it lowered Visteon Corp.'s corporate family and probability of default ratings to Caa2, and Caa1, respectively.

In a related action, Moody's said it also lowered the ratings of Visteon's senior secured term loan to B3 from Ba3, unguaranteed senior unsecured notes to Caa3 from Caa2, and guaranteed senior unsecured notes to Caa2 from Caa1 while Visteon's speculative-grade liquidity remains SGL-3.

The outlook is negative.

According to the agency, the Caa2 corporate family rating reflects Visteon's weak credit metrics and prospects for further weakness over the near-term.

© 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.