TEXT-S&P cuts Autoparts holdings to 'B'


(The following statement was released by the rating agency) Overview -- The operating performance of aftermarket parts supplier Autoparts Holdings has been weaker than we expected, stemming from fewer miles driven, delays in vehicle servicing by U.S. consumers, and higher raw material costs in 2011. -- We are lowering our corporate credit rating on Autoparts to 'B' from 'B+'. -- Despite currently weak credit protection measures, the stable outlook reflects our view that the company should ...

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