Affinia Group Inc. -- Moody's says Affinia's announcement of the sale of its Global Chassis division is a positive credit development

New York, January 22, 2014 -- The announcement by Affinia Group Inc. ("Affinia") of the sale of its Global Chassis division is viewed as a credit positive development, but does not impact Affinia's current B3 Corporate Family Rating and stable rating outlook. The transaction is expected to result in a modest improvement in Debt/EBITDA for the LTM period ending September 30, 2013 to the extent net proceeds for the transaction are used to reduce debt. We will assess the improvement in leverage over the intermediate-term resulting from higher market penetration in South America and other operational improvements. For further information, please see www.moodys.com.

Vollständigen Artikel bei Moodys lesen