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BULLETIN: Delphi Corp. Winds Down Generator Product Line
Standard & Poors, July 2002
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
Standard & Poor's said today that Delphi Corp.'s (BBB/Stable/A-2) announcement that it will wind down its generator product line has no effect on the company's credit rating or outlook. Delphi previously announced its intention to sell or wind down the product line and establish reserves to cover the costs of exiting the unprofitable business. The company will eliminate all capital spending, engineering expense, and general administrative support for the business, except for the minimum required to serve customers until the wind down is complete. Delphi's generator business, which manufactures air-cooled and liquid-cooled belt-driven generators for original equipment manufacturers and the aftermarket, had sales of about $500 million in 2001....
Companies mentioned in this report are: Delphi Automotive LLP
Action: S&P Event
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