DANA <DCN> DEBT MAY BE DOWNGRADED BY MOODY'S
Moody's Investors Service Inc said it
may downgrade 700 mln dlrs of debt of Dana Corp and its unit,
Dana Credit Corp.
    The agency said its review would focus on the implications
of Dana's aggressive balance sheet management on liquidity and
financial flexibility. Moody's will also take into account
intensifying competition and pricing difficulties in Dana's
highly cyclical core truck and industrial markets.
    Dana currently carries A-2 senior debt and industrial
revenue bonds. The Prime-1 commercial paper of Dana and its
credit unit are also under review for possible downgrade.
 Reuter
