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Allison Transmission Inc.?s Senior Secured Debt Ratings Unchanged After Bank Debt Refinancing Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 9, 2011--Standard & Poor's Ratings Services said today that its 'B+' issue-level rating and '2' recovery rating on Indianapolis-based Allison Transmission Inc.'s senior secured debt remain unchanged after the company's revolving credit facility was refinanced. Allison recently extended the maturity of the revolving portion of its senior secured credit facility to Aug. 7, 2016 from Aug. 7, 2013. The new revolving credit facility replaces the existing facility and increases availability back to the $400 million (previously, $82.5 million was held by Lehman Commercial Paper Inc.). The maturity extends to 2016, provided the term loan is extended to a new date beyond the revolving credit facility, prior to May 7, 2014. The amendment also increases...
Companies mentioned in this report are: Allison Transmission Inc.
Action: Affirmed
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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