Credit rating changes

An overveiw of credit rating changes last month

Company New Rating Rating Agency Date Agency Comment Dana B3 Moody's 29.03.06 B3 Ratings awarded to Dana Corporation's DIP Facilities and Prepetition ratings withdrawn.It is probable that Dana will emerge from bankruptcy. The revolving credit facility is expected to provide sufficient liquidity through maturity of the facilities. However, substantial cost and/or loss reductions will be required to return the domestic debtor entities to profitable operating income and a positive free cash flow position. As a result, increasing use of the DIP revolving credit is expected without profit improvement efforts for the domestic debtor entities going beyond the asset sales and cost reduction efforts announced by the company in October 2005.