Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for American Axle & Manufacturing, Inc. > News item |
S&P rates American Axle notes B
S&P said it assigned its B issue-level rating and 6 recovery rating to American Axle & Manufacturing Inc.'s proposed $1.2 billion senior unsecured notes, which will be issued in two tranches due 2025 and 2027.
The 6 recovery rating indicates an expectation for negligible (0%-10%; rounded estimate: 5%) recovery in the event of a payment default.
This transaction follows American Axle's recent launch of $1.65 billion of senior secured term loan facilities and an $800 million senior secured revolving credit facility related to its pending acquisition of Metaldyne Performance Group Inc.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.