TEXT-S&P cuts United Components corporate credit rating

Newswire

(The following statement was released by the rating agency) Jan 29 - Standard & Poor's Ratings Services today said it has lowered its corporate credit rating on Evansville, Ind.-based United Components Inc. (UCI) to 'B-' from 'B'. The outlook is negative. The downgrade reflects UCI's tight liquidity and very aggressive leverage. "Given our expectations for the duration and depth of the U.S. recession and our view of the negative effect it will have on aftermarket revenues, we no ...

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