Moody's turns Meritor outlook to stable

Moody's Investors Service said it changed Meritor, Inc.'s outlook to stable from negative.

“The stable outlook reflects Moody's expectation for a steady, but at times uneven, rebound in results supported by strong end market demand through 2022. Credit metrics should improve as cost headwinds abate and supply chain disruptions ease, allowing steadier OEM production schedules,” Moody’s said in a press release.

Concurrently, the agency affirmed Meritor’s corporate family rating at Ba3, probability of default rating at Ba3-PD and senior unsecured rating at B1. The speculative grade liquidity rating remains SGL-2.

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