Moody’s turns American Axle view to positive

Moody’s said it revised American Axle & Manufacturing Inc.’s outlook to positive from negative.

“The positive outlook reflects Moody's expectation that the recovery of automotive vehicle volumes will continue in North America through 2022, supporting improvement in operating results. The positive outlook also anticipates that solid free cash flow generation will be largely utilized for debt repayment, with the possibility of smaller tuck-in acquisitions to supplement increased penetration of electric driveline markets,” Moody’s said in a press release.

The agency also affirmed American Axle’s B1 corporate family rating, B1-PD probability of default rating, Ba2 senior secured rating and B2 senior unsecured rating.

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