I love being the bearer of good news! S&P has raised Visteon's credit rating from a B- to a B+ after it dumped 23 factories onto a FoMoCo holding company on Saturday. As Martin King of Standard & Poor's said, "Visteon has shed some of its weakest business units — those generating large losses and absorbing substantial cash flow — leaving it with a more competitively positioned and faster growing portfolio of products."
While Visteon's debt and its reliance on Ford still pose challenges, the crash diet takes quite a bit of, er, weight off of Visteon's shoulders.
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