Moody's cuts Collins & Aikman Products' ratings

Newswire

NEW YORK, May 13 (Reuters) - Moody's Investors Service on Friday cut all of its debt ratings on Collins & Aikman Products Co. by two notches or more, saying a reorganization of the company appears imminent without an infusion of new funds.

Auto parts supplier Collins & Aikman on Thursday warned of significant near-term liquidity problems and said its chief executive had resigned, prompting speculation by analysts that bankruptcy was almost inevitable.

Moody's cut ...

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