Fitch raises rating on Dana Corp, may raise again

Newswire

NEW YORK, Nov 23 (Reuters) - Fitch Ratings on Tuesday raised its ratings on Dana Corp. and said it may raise them again to investment-grade status, citing expectations of lower debt. Fitch raised Dana Corp.'s senior unsecured rating to "BB-plus," the highest junk rating, from "BB." The ratings could be raised to "BBB-minus," depending on how Dana uses proceeds from the sale of its Automotive Aftermarket Group, Fitch said in a statement. Dana's $2 billion of net debt could be reduced by ...

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