Fitch rates Meritor loan BB

Fitch Ratings said it assigned a rating of BB with a recovery rating of RR1 to Meritor, Inc.'s amended and restated secured credit facility.

The amended credit facility is currently comprised of a $429 million revolving credit facility and a $100 million funded term loan.

The company's issuer default rating is B and the outlook is positive.

The recovery rating of RR1 reflects its substantial collateral coverage that results in outstanding recovery prospects in the 90% to 100% range in a distressed scenario, Fitch said.

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