S&P: American Railcar unchanged

Standard & Poor's said that the announcement that American Railcar Industries Inc. (BB-/stable) has acquired a 9.45% stake in Greenbrier Cos. Inc. (BB-/stable) and that American Railcar's principal shareholder, Carl Icahn, has expressed interest in a possible business combination of the two railcar manufacturers, does not immediately affect the ratings or outlook on either company.

According to related SEC filings, no business combination offer has been made, nor has any structure of a potential acquisition been suggested, the agency said.

S&P noted that combining with Greenbrier would contribute to improving American Railcar's business risk profile, by strengthening and diversifying its product portfolio.

The agency also noted that the company has a significant cash balance that it could use for an acquisition.

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