Tower, Delphi Labor Agreements Status Not Affecting Auto Ratings So Far Feb 06
Standard & Poors, February 2006
Abstract
NEW YORK (Standard & Poor's) Feb. 16, 2006--Standard & Poor's Ratings Services said today that recent court filings by unrated Tower Automotive Inc. and possible filings on Friday Feb. 17 by unrated Delphi Corp. to reject certain labor agreements under Sections 1113 (collective bargaining agreements) and 1114 (retiree medical and life insurance benefits) of the U.S. Bankruptcy Code as part of their respective bankruptcy proceedings will not have an immediate impact on the ratings of automakers and auto suppliers that would be affected if Delphi or Tower workers were to strike. Pursuant to a court scheduling order, Delphi has until 4 p.m. on Friday Feb. 17 to file an 1113/1114 motion, although we believe this deadline could be changed by...
Companies mentioned in this report are:
- Dana Holding Corp.
- Ford Motor Co.
- Motors Liquidation Co. (fka General Motors Corp.)
- Metaldyne LLC
- Lear Corp.
- Hayes Lemmerz International Inc.
- American Axle & Manufacturing Holdings Inc.
- Dura Automotive Systems Inc.
- Visteon Corp.
- Plastech Engineered Products Inc.
- Cooper-Standard Automotive Inc.
Action: General Comment
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.
- Dana Holding Corp.
- Ford Motor Co.
- Motors Liquidation Co. (fka General Motors Corp.)
- Metaldyne LLC
- Lear Corp.
- Hayes Lemmerz International Inc.
- American Axle & Manufacturing Holdings Inc.
- Dura Automotive Systems Inc.
- Visteon Corp.
- Plastech Engineered Products Inc.
- Cooper-Standard Automotive Inc.
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