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Allison Transmission Inc.'s Sr. Secured Debt Raised To 'B+'; Other Ratings Affirmed; Outlook Stable
Standard & Poors, April 2011
Abstract
We are affirming the 'B' corporate credit rating and stable outlook on Indianapolis-based global auto component supplier Allison Transmission Inc. and raising the issue-level rating on the company's senior secured debt to 'B+'. We believe that the timing of an initial public offering by the company and and the amount of debt reduction are uncertain, but if the transaction is successful it could accelerate the gradual reduction in leverage coupled with the improved profitability during the past few quarters The outlook is stable, reflecting our view that Allison can generate positive free cash flow of over $200 million in 2011, sustaining recent EBITDA margins. NEW YORK (Standard & Poor's) April 5, 2011--Standard & Poor's Ratings Services said today that it...
Companies mentioned in this report are: Allison Transmission Inc.
Action: Affirmed
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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