S&P: Federal-Mogul view stable

Standard & Poor's said it revised its outlook on Federal-Mogul Corp. to stable from negative and affirmed its B+ corporate credit rating.

Federal-Mogul's intermediate-term financial prospects can support the B+ rating and there is no longer a one-in-three likelihood that the agency will lower the rating in the year ahead, S&P said.

Global economic stabilization, albeit at low levels of economic activity, will provide a floor for the company's revenues in the year ahead, the agency said.

The company's restructuring activities should help improve cash generation in the year ahead as revenues improve, S&P added.

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