VAN BUREN TOWNSHIP, Mich. — Visteon said today it has reached agreements with its lenders for temporary waivers and amendments to its primary secured credit facilities while the company continues to address its capital structure. The company also said it is engaged in discussions with customers to address its liquidity and capital requirements.
The agreements with Visteon’s lenders provide for temporary waivers of the company’s default under its primary credit facilities. Visteon remains in active discussions with its lenders regarding the restructuring of the company’s capital structure.
Additionally, Visteon is continuing discussions with its customers including Chrysler, Ford, GM, Honda, Hyundai, Nissan, PSA and Renault, regarding support and cooperation to assist the company in managing through the current environment.
"Visteon remains focused on driving improvement throughout our operations despite the turbulent production environment," said Chairman and CEO Donald Stebbins. "We appreciate the involvement and support of our lenders and customers in that effort, along with the ongoing commitment of our global suppliers and employees."
