S&P: Cooper-Standard unchanged

Standard & Poor's said its ratings on Cooper-Standard Automotive Inc. (B/stable) were unaffected by the company's announcement that it expects to acquire Metzeler Automotive Profile Systems from unrated Automotive Sealing Systems SA.

The Metzeler operations manufacture sealing systems primarily for the automotive market, the agency said, noting that the purchase is being financed with debt and some new equity from Cooper-Standard's equity sponsors, The Cypress Group and Goldman Sachs Capital Partners.

Although the company will remain highly leveraged following the acquisition, the agency said it does not expect leverage to increase materially from current levels.

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