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American Axle & Manufacturing Holdings Inc.'s Ratings Raised To 'BB-' On Stronger Sales, Profitability; Outlook Stable Jun 11
Standard & Poors, June 2011
Abstract
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. NEW YORK (Standard & Poor's) June 7, 2011--Standard & Poor's Ratings Services said today that it raised its corporate credit rating on American Axle & Manufacturing Holdings Inc. to 'BB-' from 'B+'. The outlook is stable. At...
Companies mentioned in this report are: American Axle & Manufacturing Holdings Inc.
Action: Outlook: Stable
Action: Upgraded
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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