TEXT-S&P comments on Collins & Aikman ratings

Newswire

(The following statement was released by the rating agency) NEW YORK, Aug 20 - The announcement by Collins & Aikman (B+/Negative/--) of new restructuring actions and the appointment of David Stockman, its chairman, to the additional position of chief executive officer does not have an immediate effect on Standard & Poor's Ratings Services ratings on the company. Standard & Poor's recognizes that these actions may benefit the company's longer-term financial results. However, ...

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