Dana's debt ratings slashed on restructuring report

Newswire

NEW YORK, Feb 24 (Reuters) - Standard & Poor's on Friday lowered its ratings on Dana Corp. deeper into junk status, citing reports that the auto parts supplier has hired a restructuring firm. The Wall Street Journal reported on Friday that Dana has hired Miller Buckfire & Co. as the auto and truck parts maker grapples with financial losses and operational problems. The firm is considered among the top tier of restructuring specialists, along with operations like Blackstone Group. ...

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