TEXT-S&P revises Accuride notes recovery rating to 4 from 3

Newswire

Aug. 28 - Standard & Poor's Ratings Services said today that it revised its recovery rating on Evansville, Ind.-based Accuride Corp.'s $310 million senior secured notes to '4' from '3' because of a higher asset-based lending (ABL) commitment and increased capital leases. The issue-level rating on the notes remains unchanged at 'B'. The '4' recovery rating indicates our expectation that lenders would receive average (30% to 50%) recovery in the event of a ...

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