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Allison Transmission Assigned 'B+' Corporate Credit Rating With Stable Outlook
Standard & Poors, July 2007
Abstract
NEW YORK (Standard & Poor's) July 18, 2007--Standard & Poor's Ratings Services said today it assigned its 'B+' corporate credit rating to Indianapolis, Ind.-based Allison Transmission Inc., a commercial vehicle transmission manufacturer that is being acquired from General Motors Corp. (B/Negative/B-3) in a leveraged buyout by The Carlyle Group and Onex Corp. The outlook is stable. Standard & Poor's also assigned its 'BB-' bank loan rating (one notch above the corporate credit rating) and '2' recovery ratings to the company's proposed $400 million revolving credit facility and $3.1 billion first-lien senior secured term loan. The '2' recovery rating indicates expectation of substantial (70%-90%) recovery in the event of a default. (For the complete recovery analysis, see 'Recovery Report: Allison Transmission...
Companies mentioned in this report are: Allison Transmission Inc.,Motors Liquidation Co. (fka General Motors Corp.)
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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