S&P: Meridian Automotive cut to negative

Standard & Poor's said it revised its outlook on B+ rated Meridian Automotive Systems Inc. to negative from stable, reflecting concerns about the company's weaker-than-expected earnings and cash flow generation resulting from challenging industry conditions.

The ratings on the company were affirmed, including its B+ senior secured rating and B- second-lien senior secured rating.

S&P said Meridian's operating results have fallen short of the company's business plan, primarily because of the increased challenges of the North American automotive industry.

© 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.