Moody's cuts ArvinMeritor deeper into junk status


NEW YORK, June 23 (Reuters) - Moody's Investors Service on Thursday cut ArvinMeritor Inc.'s debt ratings deeper into junk status, citing tough conditions for its light vehicle systems unit and reduced liquidity. Downgrades usually raise a company's borrowing costs. Moody's cut the company's corporate family and senior unsecured ratings to "Ba2," which is two steps below investment grade, from "Ba1."

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