United States

American Axle & Manufacturing Holdings Inc (AXL)

AXL on New York Consolidated

21 Oct 2016
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$-0.22 (-1.24%)
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Mon, Oct 3 2016

Fitch Upgrades American Axle's IDR to 'BB'; Outlook Stable

(The following statement was released by the rating agency) CHICAGO, October 03 (Fitch) Fitch Ratings has upgraded the Issuer Default Ratings (IDRs) of American Axle & Manufacturing Holdings, Inc. (AXL) and its subsidiary American Axle & Manufacturing, Inc. (AAM) to 'BB' from 'BB-'. Fitch has also affirmed the rating on AAM's secured revolving credit facility at 'BB+/RR1'. Fitch has upgraded AAM's senior unsecured notes rating to 'BB/RR4' from 'BB-/RR4'. A full list of rating actions follow

BRIEF-American Axle reports Q2 earnings of $0.90/ share

July 29 American Axle & Manufacturing Holdings Inc

BRIEF-American Axle & Manufacturing Q1 earnings per share $0.78

* In q1 of 2016, aam's content-per-vehicle was $1,611 as compared to $1,676 in q1 of 2015

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