S&P rates Altra Industrial notes CCC+

Standard & Poor's said it assigned its B corporate credit rating to Altra Industrial Motion Inc. At the same time it assigned its CCC+ senior secured rating to Altra's proposed $165 million second-lien senior secured notes due in 2011. The outlook is stable.

Genstar Capital LP is the main purchaser of Altra (known as the Power Transmission Group) from Colfax Corp. (BB-/positive/--) for $180 million.

S&P said the speculative-grade rating reflects Altra's well-below-average business profile and its very aggressive financial profile.

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