Reuters logo
TEXT-S&P revises Altra Holdings snr secured recovery rating to '3'
August 1, 2012 / 6:15 PM / 5 years ago

TEXT-S&P revises Altra Holdings snr secured recovery rating to '3'

Aug 1 - Standard & Poor's Ratings Services said today it revised its
recovery rating upward to '3' from '4' on Braintree, Mass.-based Altra Holdings
Inc.'s 8.125% senior secured notes. The mechanical power transmission
product manufacturer recently redeemed $21 million of its 
senior secured notes, and about $177 million remains outstanding.

The issue rating remains 'BB-', the same as the corporate credit rating on 
subsidiary Altra Industrial Motion Inc. 

We expect the lower amount of outstanding debt to result in greater recovery 
for lenders in a payment default. The '3' recovery rating indicates our 
expectation for meaningful (50%-70%) recovery for noteholders following a 
payment default. For the complete recovery analysis, see the recovery report 
on Altra Holdings Inc., to be published following this report on RatingsDirect.

Our 'BB-' corporate credit rating and stable outlook on Altra Industrial 
Motion Inc. remain unchanged. 

Altra Industrial Motion Inc., Feb. 24, 2012


Altra Industrial Motion Inc.
 Corporate Credit Rating      BB-/Stable/--

Recovery Rating Revised 
                              To          From
Altra Holdings Inc.
 Senior Secured               BB-         BB-
  Recovery Rating             3           4

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below