TEXT-S&P says Dana Holding stock offering will not affect rtgs

Newswire

(The following statement was released by the rating agency) Sept 22 - Standard & Poor's Ratings Services said today that it views Dana Holding Corp.'s (B-/Negative/--) public offering of about30 million shares of its common stock as a modest positive but with no immediate effect on the company's rating. The equity issuance and debt reduction will help the company's liquidity incrementally. At June 30, 2009, Dana had $512 million in unrestricted balance sheet cash, 43% of which was ...

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