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S&P affirms Hayes Lemmerz, lifts watch
Standard & Poor's said it affirmed its B corporate credit ratings on Hayes Lemmerz International Inc., removed the rating from CreditWatch with developing implications, where it was placed on Oct. 10, and assigned a positive outlook to the company.
Subsequently, the agency said it withdrew all ratings on Hayes Lemmerz at the company's request.
S&P said the ratings withdrawal follows the completed acquisition of Hayes by a subsidiary of unrated Iochpe-Maxion SA on Feb. 1. All of Hayes' rated debt was repaid at transaction close.
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