Mercury Finance Co. suffered another setback Monday when Duff and Phelps Credit Rating Co. downgraded the subprime auto lender's senior debt.

The downgrading, to DD from CCC, came in response to the Lake Forest, Ill., company's failure Friday to pay off $15 million of medium-term, privately held notes.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.