...The recent upgrade of Meritor, Inc.'s (MTOR) ratings was driven by the significant improvement in the company's credit profile over the past year. Much of this was accomplished in the fiscal first quarter of fiscal year (FY) 2018, as the company used proceeds from the sale of its 50% stake in the Meritor WABCO Vehicle Control Systems joint venture to permanently reduce long-term debt. In addition, over the past several years MTOR has improved its operational flexibility, which has allowed it to produce consistently positive annual FCF, despite large swings in North American Class 8 truck demand....
