Fitch gives Allison Transmission loan BB

Fitch Ratings said it assigned a rating of BB to Allison Transmission, Inc.'s proposed secured $470 million term B-4 loan.

ATI is a subsidiary of Allison Transmission Holdings, Inc.

Both issuer default ratings are BB- and outlooks are positive.

The proposed term B-4 loan will be incorporated into Allison Transmission’s existing secured credit agreement via an amendment. It will mature on Aug. 23, 2019, which is the same maturity date as the existing $1.8 billion term B-4 loan.

Proceeds will be used to pay for the tender of Allison Transmission’s $471 million in 7 1/8% senior unsecured notes that was announced on March 18.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.