S&P boosts ATU view to stable

Standard & Poor's said it revised the outlook on ATU Auto-Teile-Unger to stable from negative, reflecting the significant progress the company achieved in reducing its leverage during the past twelve months.

At the same time, the B+ long-term corporate credit rating was affirmed.

S&P said the rating continues to reflect its highly leveraged financial risk profile owing to its high debt levels following the second leveraged buyout of the company by Kohlberg Kravis Roberts & Co. in August 2004.

The agency added these negative factors are mitigated by ATU's business profile, which - although classified as weak - is still better than the company's financial profile.

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