TEXT-S&P expects to rate Cooper-Standard

Newswire

(The following statement was released by the rating agency) -- Novi, Mich.-based auto supplier Cooper-Standard Automotive Inc. has announced that it expects to emerge from Chapter 11 bankruptcy protection by the end of May 2010; the court confirmed the company's plan of reorganization on May 12, 2010. -- Under the plan, the company's total debt would be reduced by more than 50% from pre-bankruptcy levels, but the financial risk profile remains aggressive, in our view. -- We expect to ...

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