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Standard & Poor’s Drops Cooper Rating

(Akron/Tire Review) In another downgrade, Standard & Poor’s Ratings Services cut Cooper Tire & Rubber Co.’s credit ratings to ‘junk.’

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Standard & Poor’s said Cooper’s poor near-term earnings and cash flow prospects caused the downgrade to BB from BB+.

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Cooper, said Standard & Poor’s, is expected to experience pressure on its earnings for the “next few quarters.”

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