Fitch ups American Axle

Fitch Ratings said it upgraded American Axle & Manufacturing Holdings, Inc. and subsidiary American Axle & Manufacturing, Inc.'s issuer default ratings to B+ from B.

Fitch upgraded American Axle & Manufacturing's secured credit facility to BB/RR2 from BB-/RR2, senior secured notes to BB/RR2 from BB-/RR2 and senior unsecured notes to B-/RR6 from CCC/RR6.

The outlook is stable.

The ratings reflect the improvement seen in the drivetrain and driveline supplier's credit profile over the past year as conditions in the global light vehicle market have improved, Fitch said.

The company has benefited from the resurgence in pickup and sport-utility production at General Motors Co. and Chrysler Group LLC, the companies' two largest customers, following the production stoppages that took place during the bankruptcies of General Motors and Chrysler in 2009, the agency said.

The ratings consider the potential for another slowing of the global economy, the agency added.

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