Moody's affirms TriMas

Moody's Investors Service said it affirmed the SGL-3 speculative grade liquidity rating of TriMas Corp.

Moody's said the affirmation of the rating reflects its view that over the next 12 months free cash flow will be break even to slightly negative and, although cushion under financial covenants is likely to be modest, the SGL-3 rating incorporates Moody's view that TriMas will likely remain in compliance.

The rating also reflects the improvement in operating performance over the past several quarters due in part to acquisitions and cost containment efforts as well as relatively stable margins and a diverse business mix, according to Moody's.

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