TEXT-S&P cuts Metaldyne Corp to 'D' from 'CCC-'

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(The following statement was released by the rating agency) May 28 - Standard & Poor's Ratings Services today lowered its corporate credit rating on Plymouth, Mich.-based Metaldyne Corp. to 'D' and lowered various issue-level ratings. The rating actions were prompted by Metaldyne filing for Chapter 11 bankruptcy protection on May 28, 2009, in New York. Deutsche Bank AG has agreed to provide an $18.5 million debtor-in-possession financing facility. Some of Metaldyne's customers are ...

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