New York, August 13, 2013 -- Moody's says the announcement by Visteon Corporation (Visteon) that it has entered into an agreement to sell its 50 percent stake in Chinese joint venture Yanfeng Visteon Automotive Trim Systems Co., Ltd. (YFV), as well as its direct interests in other related interiors joint ventures, to Huayu Automotive Systems Co., Ltd. (HASCO) is viewed as a credit negative development, but does not impact Visteon's B1 Corporate Family Rating. According to the announcement, Visteon will receive $1.2 billion of net proceeds in the transaction, but will see a reduction of EBITDA in the $100 million range. Yet, the transaction is also expected to bolster Visteon's competitive position in vehicle electronics, an important growth area, and reduce the complexity of its corporate structure. For further information, please see www.moodys.com.

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