Moody's cuts Motor Coach probability-of-default to D

Moody's Investors Service said it lowered the probability-of-default rating of Motor Coach Industries International, Inc. to D from Ca and affirmed the existing corporate family rating of Ca.

The action follows Motor Coach's Sept. 15 filing for protection under Chapter 11 of the U.S. Bankruptcy Code, according to the agency.

The rating on Motor Coach's $59 million guaranteed senior subordinate notes due May 2009 is C (LGD6), the agency said.

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