S&P affirms Hayes Lemmerz

Standard & Poor's said it affirmed its B- corporate credit rating on Hayes Lemmerz International Inc. and removed the rating from CreditWatch with negative implications, where it was placed Aug. 21.

The outlook is negative.

The agency said that the rating affirmation follows a review of the impact of Ford Motor Co.'s recently announced plans to sharply reduce vehicle production in the fourth quarter of 2006, noting it has concluded that the negative impact on Hayes' earnings and cash flow will be partially offset by gradually improving performance in the company's international operations.

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