S&P rates Remy, loan B+

Standard & Poor's said it assigned a preliminary B+ corporate credit rating to Remy International Inc., along with a preliminary B+ rating and preliminary 4 recovery rating to the company's $300 million term loan B.

The outlook is stable.

The ratings are based on Remy's weak business risk profile and an aggressive financial risk profile, S&P said.

The ratings reflect volatile industry demand, fierce competition and the company's North American business and product concentration, the agency said.

Partially offsetting these factors are the company's leading market positions, fair end-market diversity and substantial aftermarket business, S&P said.

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