Textron attempts to salvage credit ratings through liquidity plan

07/22/2009 | Reuters

Textron is attempting to unwind its noncaptive financial business and keep to its schedule for improving liquidity. The diversified manufacturer sent notices to borrowers that lines of credit would not be renewed and debt should be paid in full. Some analysts say that Textron Financial's credit ratings could be downgraded to junk if the company falls behind on its liquidity plan.

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