TEXT-S&P cuts Visteon Corp to 'D' on Ch 11 filing

Newswire

(The following statement was released by the rating agency) May 28 - Standard & Poor's Ratings Services today lowered its corporate credit rating on Van Buren Township, Mich.-based Visteon Corp. to 'D' and lowered various issue-level ratings. The rating actions were prompted by Visteon filing for Chapter 11 bankruptcy protection on May 28, 2009, in Delaware. Ford Motor Co., the company's largest customer, has executed a commitment letter to provide debtor-in-possession financing for ...

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