S&P revises Superior Industries view to negative

S&P said it revised its outlook on Superior Industries International Inc. to negative from stable and affirmed the B issuer credit rating.

At the same time, S&P affirmed its B issue-level rating on Superior's term loan and the B- issue-level rating on its unsecured notes. The 3 recovery rating on the term loan and 5 recovery rating on the unsecured notes remain unchanged.

The outlook is negative.

“The outlook revision reflects our expectation that Superior’s financial ratios will likely remain weak for the current rating, particularly for a company exposed to the intense cyclicality of the auto original equipment market,” S&P said in a news release.

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