TEXT-S&P cuts LT rating on Mitsubishi Motors, on watch pos

Newswire

(The following statement was released by the ratings agency) LONDON, May 21 - Standard & Poor's Ratings Services today changed to positive from negative the CreditWatch status of its 'CCC+' rating on Mitsubishi Motors Corp.'s (MMC) senior unsecured bonds, following the announcement of a business revitalization plan that includes financial support for the carmaker. At the same time, Standard & Poor's lowered its long-term corporate credit rating on MMC to 'CC' from 'CCC-' and ...

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