Fitch affirms ratings on ArvinMeritor

CHICAGO - Credit ratings agency Fitch Ratings affirmed its ratings on auto parts supplier ArvinMeritor Inc. but kept a negative long-term view, raising questions about a spin-off of one of its segments. Fitch said the company's proposed spin-off of its light vehicle systems group, first announced in May, would be "relatively positive" for the company's debtholders. However, the state of capital markets and the automotive industry raise questions about whether the spin-off can be completed under the proposed terms, Fitch said. The ratings agency also... [read full story]