TEXT-S&P: Allison Transmission unaffected by PIK payments

Newswire

(The following statement was released by the rating agency) April 28 - Standard & Poor's Ratings Services said today that its ratings on Allison Transmission Inc. (B/Negative/--) are not affected by the company's election to make a payment-in-kind (PIK) interest payment on its 11.25% senior unsecured toggle notes due 2015. The decision affects the interest payment scheduled for Nov. 1, 2009, and will result in an increase to the principal amount of the notes as of that date (and ...

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