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Summary: Affinia Group Intermediate Holdings Inc. Dec 11
Standard & Poors, December 2011
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 products and services in the light-vehicle and commercial-vehicle aftermarkets, so the company is not exposed to the volatile production schedules of the major automakers. Also, Affinia's main products are filters (38% of 2010 sales) and brake components (32%),...
Companies mentioned in this report are: Affinia Group Intermediate Holdings Inc.,Affinia Group Inc.
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Affinia Group Intermediate Holdings Inc.,Affinia Group Inc.