TEXT-S&P rates American Axle & Manufacturing proposed notes

Newswire

(The following statement was released by the rating agency) Oct 31 - Standard & Poor's Ratings Services said today that it has assigned a 'B' rating to American Axle and Manufacturing Holdings Inc proposed $200 million senior unsecured notes due 2019 with a recovery rating of '6', indicating our expectation that lenders would receive negligible (0-10%) recovery in the event of a default. At the same time, we raised the issue-level ratings to 'BB+' from 'BB' and recovery ratings to ...

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