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Research Update: S&PCORRECT: GM, American Axle, Lear, Tenneco Rtgs Are Placed On Watch Neg Mar 08 Product Image

Research Update: S&PCORRECT: GM, American Axle, Lear, Tenneco Rtgs Are Placed On Watch Neg Mar 08

  • Published: March 2008
  • Standard & Poors

FEATURED COMPANIES

  • Lear Corp.
  • Tenneco Inc.
  • MORE

Abstract
On March 17, 2008, Standard & Poor's Ratings Services placed the ratings on General Motors Corp. (GM), American Axle & Manufacturing Holdings Inc., Lear Corp., and Tenneco Inc. on CreditWatch with negative implications. The CreditWatch placement reflects our decision to review the ratings in light of the extended American Axle (BB/Watch Neg/--) strike. The work stoppage that began Feb. 25 at American Axle's U.S. United Auto Workers (UAW) plants has forced closure of many GM (B/Watch Neg/B-3) plants, as well as plants of certain GM suppliers. The strike began after the expiration of the four-year master labor agreement with American Axle. Although we still expect American Axle and the UAW to reach an agreement that will reflect more competitive labor...

Companies mentioned in this report are:
- Tenneco Inc.
- Motors Liquidation Co. (fka General Motors Corp.)
- Lear Corp.
- American Axle & Manufacturing Holdings Inc.

Action: On CreditWatch:Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured READ MORE >

- Tenneco Inc.
- Motors Liquidation Co. (fka General Motors Corp.)
- Lear Corp.
- American Axle & Manufacturing Holdings Inc.

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