TEXT-S&P raises Lear to 'BB' on better credit measures

Newswire

(The following statement was released by the rating agency) -- We believe Michigan-based auto supplier Lear Corp.'s financial risk credit measures have improved significantly because of the ongoing recovery in light-vehicle demand in North America and Europe and strong growth in emerging markets. -- We also believe recently increased profitability and cash flow are sustainable based on our expectations of global auto production and Lear's backlog, substantially reduced cost structure, ...

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