TEXT-S&P release on Affinia Group's notes

Newswire

(The following statement was released by the ratings agency) Sept 24 - Standard & Poor's Ratings Services today assigned its 'BB-' issue-level rating and '1' recovery rating to Affinia Group Inc's proposed $200 million senior secured notes due 2013. The issue-level rating (which is two notches higher than the 'B' corporate credit rating on Affinia) and recovery rating indicate our expectation of very high (90% to 100%) recovery of principal in the event of a payment default or ...

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