Moody's confirms Lear's ratings, senior unsecured at Baa2, outlook negative
Rating Action: Moody's confirms Lear's ratings, senior unsecured at Baa2, outlook negative. Global Credit Research- 12 Jun 2020. Approximately $2.1 billion of rated debt obligations affected.Lear is a supplier to the automotive industry. The company supplies seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The company has two segments: Seating, which consists of the design, development, engineering, just-in-time assembly and delivery of seat systems, and the design, development, engineering and manufacture of seat components; and E-Systems, which consists of the design, development, engineering and manufacture of electrical distribution systems, and electronic control modules, electrification products, connectivity products and software solutions for the cloud, vehicles and mobile devices.
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