S&P: Altra Industrial unchanged

Standard & Poor's said its ratings and outlook on Altra Industrial Motion Corp. (B/stable) were not affected following the announcement that parent company Altra Holdings filed a registration statement proposing a public offering of 760,229 shares of common stock.

Additionally, private equity sponsor Genstar Capital will be selling its 30% equity stake in the company, the agency said.

Altra intends to use the proceeds to repay part of its 2013 senior notes, according to S&P, which added that this follows the recent $105 million add-on to its 2011 senior secured notes to fund the TB Wood's acquisition.

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