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TEXT-S&P: Navistar sale of common shares has no rating effect
October 24, 2012 / 2:50 PM / 5 years ago

TEXT-S&P: Navistar sale of common shares has no rating effect

Oct 24 - Standard & Poor's Ratings Services said today that its ratings on
Navistar International Corp. (B/Negative/--) are not affected by the
company's announced sale of up to 11.5 million common shares. The $215 million
proceeds (assuming today's opening price) will buttress liquidity as the company
implements its product revamp over the next year. The critical risks that
underlie the corporate credit rating continue to be Navistar's effectiveness in
executing its operating plan in a timely fashion, the quality of its new
products, and whether it can regain lost market share.

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