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Bulletin: Allison Transmission Inc. Rating Not Immediately Affected By IPO Plans
Standard & Poors, March 2011
Abstract
NEW YORK (Standard & Poor's) March 18, 2011--Standard & Poor's Ratings Services said today that its ratings on commercial-vehicle supplier Allison Transmission Inc. (B/Stable/--) are not immediately affected by the company's filing for an initial public offering of stock. In its registration statement, Allison Transmission Holdings Inc. said it could use the net proceeds from the IPO to repay indebtedness and for other general purposes. Although we believe the execution of the IPO and the amount of debt reduction are uncertain, we believe the transaction, if successful, could accelerate the gradual reduction in leverage the company has already achieved through improved profitability during the past few quarters. Including our adjustments, debt to EBITDA was about 6.2x as of the end...
Companies mentioned in this report are: Allison Transmission Inc.
Action: Bulletin
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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