TEXT-S&P puts TMD Friction 'B+' rtng on creditwatch positive

Newswire

(The following statement was released by the rating agency) Sept 30- -- TMD Friction has announced that its shareholders have reached an agreement to sell the company to Nisshinbo Holdings Inc . -- We are placing our 'B+' rating on TMD on CreditWatch with positive implications. -- The recovery ratings are unchanged. -- We will review the rating once the transaction is completed and we have more visibility on Nisshinbo's creditworthiness and likely support to TMD in a stress ...

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