S&P cuts Dura debt ratings deeper into junk

Newswire

NEW YORK, March 18 (Reuters) - Standard & Poor's on Friday downgraded Dura Automotive Systems Inc.'s debt ratings deeper into junk territory, citing factors including the auto parts maker's weak operating results and high borrowings. The move comes after S&P on Wednesday took early steps to cut General Motors Corp.'s debt ratings to junk, by lowering the car maker's ratings outlook to negative from stable. GM and Ford Motor Co. are both suffering from high inventories and high ...

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