S&P may cut Lear deeper into junk on weak results

Newswire

NEW YORK, Jan 25 (Reuters) - Standard & Poor's said on Wednesday it may lower its ratings on auto parts maker Lear Corp. deeper into junk, citing concerns about the company's ability to improve earnings and cash flow in the next few years. Lear on Wednesday posted a steep fourth-quarter net loss, pressured by charges, but said operating results came in slightly better than expected. Production cuts by North American automakers and higher material costs hurt results, the company said. ...

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