- Language: English
- 774 Pages
- Published: October 2012
- Region: Global
Research Update: American Axle & Manufacturing Holdings Inc.'s Ratings Raised To 'BB-' On Stronger Sales, Profitability; Outlook Stable Jun 11
- Published: June 2011
- Region: United States
- Standard & Poors
We believe the gradual recovery in light-vehicle demand in North America and a reduced cost structure continue to help Michigan-based auto supplier American Axle improve its credit measures. We see leverage declining over the next 12 months as revenue growth translates into higher EBITDA, even if EBITDA margins do not remain at current levels. We are raising our corporate credit rating to 'BB-' from 'B+'. The rating outlook is stable, reflecting that the company's financial measures stay within expectations for the current rating. On June 7, 2011, Standard & Poor's Ratings Services raised its corporate credit rating on American Axle & Manufacturing Holdings Inc. to 'BB-' from 'B+'. The outlook is stable. At the same time, we raised our issue-level...
Companies mentioned in this report are: American Axle & Manufacturing Holdings Inc.,American Axle & Manufacturing Inc.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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American Axle & Manufacturing Holdings Inc.,American Axle & Manufacturing Inc.