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Affinia Group Intermediate Holdings Inc. Dec 11
Standard & Poors, December 2011
Recognized brand names in filters and brake products; Good scale and fair geographic diversity; and Recession-resistant market. Highly leveraged capital structure; Competitive, price-sensitive industry; Volatile costs for raw materials and components; and Weak free operating cash flow generation. The ratings on Ann Arbor, Mich.-based Affinia Group Intermediate Holdings Inc. reflect the company's highly leveraged financial risk profile and participation in the competitive auto aftermarket components industry, which contributes to what Standard & Poor's Ratings Services considers a "weak" business risk profile, according to our criteria. These factors more than offset Affinia's fair geographic diversity, solid market positions, and profitability. Private-equity firm The Cypress Group LLC controls the company. Nearly all of Affinia's revenues (98%) come from the sale of replacement...
Companies mentioned in this report are: Affinia Group Intermediate Holdings Inc.,Affinia Group Inc.
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Research Type: Full Analysis
Affinia Group Intermediate Holdings Inc.,Affinia Group Inc.