Moody's cuts Dura Automotive's debt rating


NEW YORK, Sept 26 (Reuters) - Moody's Investors Service on Monday cut Dura Automotive Systems Inc.'s debt ratings, citing the company's weak operating results and free cash flow. Moody's said Dura has high levels of debt, faces issues with customer concentration and has an unfavorable product mix. Moody's cut Dura Automotive's corporate family rating to "B3," the sixth highest junk level, from "B2." A debt rating downgrade can increase a company's borrowing costs. Moody's said the ...

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