S&P ups TriMas view to stable, gives loan B+

Standard & Poor's said it revised its outlook on TriMas Corp. to stable from negative.

At the same time, S&P said it assigned its B+ senior secured bank loan rating and a recovery rating of 1 to TriMas Co. LLC's proposed new $410 million senior secured credit facilities.

The B+ rating is one notch higher than the corporate credit rating, this and the recovery rating of 1 indicate our expectation for a full recovery of principal by lenders in the event of a default, the agency said.

In addition, S&P said it affirmed its B corporate credit and CCC+ subordinated note ratings on TriMas.

S&P added that the ratings continue to reflect the company's presence in highly competitive and cyclical markets, its high debt leverage and thin cash flow protection measures.

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