Big Drop Bounce Plays

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HAYZ - Future "Q" deal coming; Moody's and Fitch lower Hayes Lemmerz ratings
Moody's and Fitch lower ratings on Hayes Lemmerz and subsidiaries following bankruptcy filing...

On Tuesday May 12, 2009, 6:52 pm EDT;

PORTLAND, Ore. (AP) -- Moody's Investors Service and Fitch Ratings on Tuesday both downgraded Hayes Lemmerz International Inc. (HAYZ) following the company's filing for bankruptcy protection.

Fitch Ratings lowered Hayes Lemmerz International Inc. and its subsidiaries' issuer default ratings and debt ratings based on the company's filing for Chapter 11 bankruptcy.

Moody's lowered HLI Operating Company Inc.'s Corporate Family Rating to "Ca" from "Caa3" and its Probability of Default rating to "D" from "Caa3" following the Chapter 11 filing of HLI, its parent company Hayes Lemmerz International Inc. and certain of Hayes Lemmerz's U.S. subsidiaries.

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