S&P cuts Schefenacker to B, says may cut again


LONDON, Nov 25 (Reuters) - German automotive systems maker Schefenacker AG had its long-term rating cut to B from B+, while its 200 million euro bond was cut to CCC+ from B-, credit ratings agency Standard & Poor's said on Thursday. S&P said the ratings remain on watch with negative implications, indicating they could be cut again. The move reflects "concerns about the company's liquidity situation," the agency said in a statement. "These actions reflect Standard & Poor's ...

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