Moody's lifts Altra Holdings

Moody's Investors Service said it upgraded the corporate family rating on Altra Holdings, Inc. to Ba3 from B1 and the rating on its $198 million senior secured notes due December 2016 to Ba3 from B1. The outlook remains stable.

The agency said it also raised the probability of default rating to Ba3 from B1. The speculative grade liquidity rating remains at SGL2.

Moody's said the upgrade of Altra's corporate family rating to Ba3 reflects its commitment to maintaining a solid balance sheet and good liquidity profile, its strong operating performance during the recent economic recovery and progress with the integration of Bauer.

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