Moody's Upgrades Lear Credit Rating

Because Lear’s financial situation is expected to continue to improve, Moody’s Investors Service recently raised Lear’s non-investment credit rating by one level from Ba3 to Ba2.

Moody's also upgraded Lear’s unsecured bond rating to Ba2 and reiterated Lear’s speculative liquidity rating of SGL-2. The rating outlook is stable but may be affected by Lear’s $700 million debt.

Moody’s stated: “After the reorganization in 2009, Lear improved the cost structure, gradually reduced the debt burden, and the liquidity of funds gradually strengthened. We believe that Lear can achieve continuous sales growth.”

Founded in 1917, the American Lear Group is one of the world's largest suppliers of automotive interior systems components. It has the highest market share in the world and is the world leader in integrated module technology for automotive interior systems.