* Tech companies, automakers fighting over access to patents, fees * Standard essential patents key to internet-linked devices * Protecting Europe’s technological sovereignty vs other sectors By Foo Yun Chee BRUSSELS, March 31 (Reuters) – EU antitrust regulators are asking Daimler, Continental and other car parts suppliers for details of failed mediation talks with Nokia,… Continue reading EU antitrust regulators quiz Daimler, others after failed Nokia talks
Author: Yarhow_Finance Online News
Delphi Technologies’s stock tumbles after BorgWarner says draw on revolver is a breach of merger deal
Shares of Delphi Technologies PLC plummeted 22% in premarket trading Tuesday, after the company said the received notice from fellow auto parts maker BorgWarner Inc. that Delphi’s decision to draw on its credit facility represents a material breach of the buyout agreement. BorgWarner’s stock was still inactive ahead of the open. Delphi said it believed… Continue reading Delphi Technologies’s stock tumbles after BorgWarner says draw on revolver is a breach of merger deal
Magna International Investments S.A. — Moody’s places Magna’s ratings under review for downgrade
Moody’s Investors Service, (“Moody’s”) placed the ratings of Magna International Inc. (Magna) under review for downgrade including its A3 LT Issuer Rating, (P)A3 Senior Unsecured Shelf rating, and A3 Senior Unsecured Notes rating. More specifically, Magna’s exposure to final consumer demand for light vehicles has left it vulnerable to shifts in market sentiment in these… Continue reading Magna International Investments S.A. — Moody’s places Magna’s ratings under review for downgrade
Lear Provides Business Update Regarding COVID-19 and Withdraws Full Year 2020 Guidance
Lear taking decisive actions in response to coronavirus pandemic, including: – Instituting additional employee safety measures – Drawing down $1.0 billion on revolving credit facility – Temporarily suspending share repurchases and quarterly dividend – Withdrawing full year 2020 outlook – Undertaking operational actions to reduce costs and preserve liquidity SOUTHFIELD, Mich., March 26, 2020 /PRNewswire/… Continue reading Lear Provides Business Update Regarding COVID-19 and Withdraws Full Year 2020 Guidance
Yanfeng Global Auto Interior Sys Co., Ltd — Moody’s places ratings of four Chinese and Korean automotive parts suppliers under review for downgrade
Moody’s Investors Service has today placed the ratings of four Chinese and Korean Automotive parts suppliers under review for downgrade. The four companies are Hyundai Mobis Co., Ltd., Johnson Electric Holdings Limited, Nexteer Automotive Group Limited, and Yanfeng Global Automotive Interior Systems Co., Ltd. A full list of the affected ratings can be found at… Continue reading Yanfeng Global Auto Interior Sys Co., Ltd — Moody’s places ratings of four Chinese and Korean automotive parts suppliers under review for downgrade
TI Group Automotive Systems L.L.C. — Moody’s places ratings of 25 US auto and commercial vehicle parts suppliers, and certain logistics providers under review for downgrade
Rating Action: Moody’s places ratings of 25 US auto and commercial vehicle parts suppliers, and certain logistics providers under review for downgrade. Global Credit Research- 26 Mar 2020. New York, March … Go to Source
BorgWarner Inc. — Moody’s places BorgWarner’s Baa1 senior unsecured rating under review for downgrade, commercial paper rating unaffected
Moody’s Investors Service, (“Moody’s”) placed the Baa1 senior unsecured ratings of BorgWarner, Inc. (“BorgWarner”) under review for downgrade. BorgWarner’s P-2 commercial paper rating is unaffected at P-2. Go to Source
Kongsberg Automotive ASA — Moody’s places ratings of 14 European Automotive parts suppliers under review for downgrade; downgrades six issuers
Rating Action: Moody’s places ratings of 14 European Automotive parts suppliers under review for downgrade; downgrades six issuers. Global Credit Research- 26 Mar 2020. Frankfurt am Main, March 26, 2020– … Go to Source
Adient Global Holdings Ltd — Moody’s places Adient’s ratings under review for downgrade, senior secured rating downgraded to Ba3.
Rating Action: Moody’s places Adient’s ratings under review for downgrade, senior secured rating downgraded to Ba3. New York, March 25, 2020 — Moody’s Investors Service placed the ratings of Adient Global Holdings Ltd. (Adient) including Corporate Family Rating (CFR) at B2, the Probability of Default Rating at B2-PD, and the senior unsecured ratings at B3… Continue reading Adient Global Holdings Ltd — Moody’s places Adient’s ratings under review for downgrade, senior secured rating downgraded to Ba3.
BorgWarner to suspend manufacturing operations, can’t estimate COVID-19-related impact
BorgWarner Inc. said Tuesday it plans to temporarily suspend manufacturing operations, particularly in North American and Europe, citing market conditions as a result of the COVID-19 pandemic. The company said it was not able to estimate the COVID-19-related impact on 2020 results given uncertainties, but said significant reductions in automotive or truck production, which made… Continue reading BorgWarner to suspend manufacturing operations, can’t estimate COVID-19-related impact