S&P cut Dana Credit Corp.'s ratings

Newswire

NEW YORK, Dec 23 (Reuters) - Standard & Poor's on Friday said it cut Dana Credit Corp.'s ratings and may cut them again, citing the restatement of financial documents by Dana Corp. . "The downgrade reflects the downgrade of Dana Corp. on Dec. 15, 2005, and the fact that a default by Dana Corp. would trigger cross-default provisions contained in Dana Credit's debt," Rian M. Pressman, a credit analyst at Standard & Poor's said in a statement. S&P cut Dana Credit Corp's senior ...

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