Magna International Inc (MGA)

[MWM]

Receivable insurance is generally carried by suppliers that depend on perhaps one or two customers or are in peril themselves, said Mr. Dreisig.

Two of the largest Canadian parts makers, Magna International Inc. and Martinrea International Inc., said their receivables are not insured.

Magna is carrying an estimated $1.6-billion in receivables from Chrysler, Ford and GM on its books, Standard & Poor's rating services said last week. It noted Magna has the financial resources to withstand the effects of a bankruptcy filing by one or more of the Detroit Three.