Lear Corp. Climbs on Moody's Upgrade to B1 (LEA)
3/19/2010-Shares of Lear Corp. (NYSE: LEA) are trading 1.4% higher to $77.03 Friday after Moody's Investors Service upgraded the company to B1, citing the auto-parts maker's stronger than-expected operating performance.
Lear's improved operating structure and good liquidity profile puts the company in position to take advantage of the significant global unit expansion expected in 2011, Moody's said.
The ratings outlook is positive, meaning a further upgrade is possible as Moody's expects global auto-industry conditions to continue improving during the intermediate term.
Write to Chip Brian at cbrian@tradethetrend.com
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