Fitch gives Hayes Lemmerz B issuer default

Fitch Ratings said it initiated ratings for Hayes Lemmerz International Inc. with an issuer default rating of B.

Fitch also said it expects to assign ratings to Hayes Lemmerz's proposed senior secured revolving credit facility, senior secured euro term loan, senior secured euro synthetic letter of credit facility and senior unsecured notes.

Affected ratings include HLI Operating Co., Inc.'s issuer default rating of B and senior secured revolving credit facility at BB/RR1 as well as Hales Lemmerz Finance - Luxembourg SA's issuer default rating at B, senior secured revolving credit facility at BB/RR1, senior secured euro term loan at BB/RR1, senior secured euro synthetic LOC facility at BB/RR1 and senior unsecured euro notes at B-/RR5.

The outlook is stable.

Fitch added that its ratings reflect the benefits of Hayes' pending recapitalization, the company's strong presence in the global wheel market, geographic diversity, a growing book of non-Detroit 3 customers, significant progress in restructuring operations and improved operating results.

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