lear SEC Filings 1

Lear Corporation is unable to file its annual report (Form 10-K) by the deadline because it is in default of its primary credit facility and is engaged in ongoing discussions to amend the facility. The company's financial statements and disclosures for the annual report could be impacted by the terms of any amendment. Additional time is needed to conclude the amendment discussions and reflect the terms in the annual report. The auditor's report on the financial statements will also contain a going concern explanatory paragraph due to adverse industry conditions and the credit default.