TEXT-S&P cuts Keystone Automotive rating to 'CCC'

Newswire

(The following statement was released by the rating agency) -- Exeter, Pa.-based Keystone Automotive Operations Inc.'s performance has been weaker than expected, resulting in reduced liquidity and extremely poor credit measures. -- We lowered all of our ratings on Keystone, including the corporate credit rating to 'CCC' from 'B-', and removed the ratings from CreditWatch negative. -- Absent a meaningful improvement in profitability or a capital injection, we believe it will be ...

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