TEXT-S&P: American Axle rtgs unaffected by results

Newswire

(The following statement was released by the rating agency) April 30 - Standard & Poor's Ratings Services said today that first-quarter 2010 results for American Axle & Manufacturing Holdings Inc. (B-/Stable/--) have no immediate effect on the rating. The company's performance is highly dependent on the outcome of unrated General Motors Co.'s turnaround in North America. Net sales in the first quarter were $521.9 million and rose almost 30% year over year, helped by a 25% increase ...

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