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Bulletin: Visteon Corp. Ratings, Outlook Not Immediately Affected By Board Member Resignation, Standstill With Investor Group May 11
Standard & Poors, May 2011
Abstract
NEW YORK (Standard & Poor's) May 16, 2011--Standard & Poor's Ratings Services today said its 'B+' corporate credit rating on Visteon Corp. was not immediately affected by the announcement that Mr. William Redmond would resign from the Visteon board effective May 20, 2011 and that the company has entered into an agreement with Alden Global Distressed Opportunities Master Fund, L.P. Mr. Redmond's letter cites the company's agreement with Alden as one reason for the resignation. We will continue to monitor and evaluate implications, if any, arising from this matter as well as Visteon's ability to effectively execute its post-emergence strategy. For example, significant changes in Visteon's strategies or financial policies, stemming from the upcoming Alden board representation or otherwise, are...
Companies mentioned in this report are: Visteon Corp.
Action: Bulletin
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.
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