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Moody's gives B3 rating to wheel maker emerging from chapter 11

Thursday, January 7, 2010

Moody’s has assigned a B3 corporate rating with stable outlook to Hayes Lemmerz, the US car and truck wheel manufacturer that recently emerged from Chapter 11. The rating comes after S&P last month assigned the firm a B- issue rating.

Although Hayes cut its debt by two-thirds in the bankruptcy process, its liquidity remains thin.

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