TEXT-S&P revises Meritor outlook to stable

Newswire

Overview -- Sales have been falling for most of Meritor's major geographical markets in fiscal 2012, and we expect this weakness to extend into fiscal 2013. -- We expect commercial-vehicle production in North America to rise 10% to 20% in 2012, while production is likely to decline about 10% in Europe and at least 20% in South America. -- Consequently, we do not expect the company's leverage to decline to 4.0x in fiscal 2013, which would support a higher rating. -- ...

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