TEXT-Fitch raises ArvinMeritor issuer default rating to 'B-'

Newswire

(The following statement was released by the rating agency) Feb 23 - In light of ArvinMeritor's (ARM) announcement of proposed capital market transactions, Fitch Ratings has upgraded ARM's Issuer Default Rating (IDR), secured bank facility ratings, and unsecured notes ratings as follows: --IDR to 'B-' from 'CCC'; --Senior secured bank facility to 'BB-/R1' from 'B+/RR1'; --Senior unsecured notes to 'CC/RR6' from 'C/RR6'. Fitch also expects to assign a 'CC/RR6' rating to ARM's new ...

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