NEW YORK -- Moody's Investors Service on Wednesday raised certain of Visteon Corp.'s debt ratings, citing the benefits of downsizing and improved liquidity.
Moody's cited the potential benefits of Visteon concluding its agreement with Ford Motor Co. and revisions to the company's bank credit agreements.
Visteon still holds junk ratings from Moody's. Nonetheless, upgrades tend to cut a company's borrowing costs.
Moody's raised the company's "corporate family rating," previously called senior implied, to "B2" from "B3."
Moody's also raised the auto parts supplier's speculative-grade liquidity rating to "SGL-3" from "SGL-4."