TEXT-S&P GKN rtgs unchanged by recent acquisition

Newswire

(The following statement was released by the rating agency) Aug 3 - Standard & Poor's Ratings Services said today that its ratings and outlook on U.K.-based engineering company GKN Holdings PLC (GKN; BB+/Stable/--) are not affected by the GBP280 million acquisition of the all-wheel-drive components businesses of Getrag KG (Getrag driveline products; not rated). The 'BB+' issue rating and '4' recovery rating on GKN's senior unsecured notes are also unaffected by the news. GKN ...

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