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BULLETIN: Visteon Corp. Ratings Unaffected By Weak Third-Quarter Earnings Annoucement Nov 05
Standard & Poors, Nov 2005
Abstract
NEW YORK (Standard & Poor's) Nov. 8, 2005--Standard & Poor's Ratings Services said today that its rating and outlook on Visteon Corp. (B+/Negative/B-2) will not be immediately affected by the company's announcement of weak earnings in the third quarter, nor by the company's expectation that operating losses will continue in the fourth quarter. This near-term outlook is consistent with our view that the company faces significant business challenges and earnings pressures, even after the Oct. 1, 2005, completion of a deal with Ford Motor Co. (BB+/Negative/B-1) that transferred several unprofitable plants and businesses to a Ford-managed entity. Visteon continues to have a high sales concentration with Ford at a time when Ford is losing market share and cutting vehicle production...
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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