S&P rates AxleTech B+, loans B+, B-

Standard & Poor's said it assigned its B+ corporate credit rating to AxleTech International Holdings Inc. and a B+ senior secured rating and a 2 recovery rating to the firm's $50 million six-year revolving credit facility and $130 million seven-year term loan B.

Also, the agency added a B- senior secured rating and a 4 recovery rating were assigned to the firm's $85 million 7.5-year term loan C. The outlook is stable.

S&P said the ratings reflect AxleTech's aggressively leveraged balance sheet, weak debt protection measures and exposure to the cyclical commercial off-highway and specialty vehicle market.

The agency said these weaknesses are tempered by its presence in the United States and international military markets and its small but growing high-margin aftermarket business.

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