S&P: Accuride, Transportation Technologies on watch positive

Standard & Poor's said it placed its B corporate credit and other ratings on Accuride Corp. and Transportation Technologies Industries Inc. on CreditWatch positive following Accuride's announcement that it has agreed to acquire Transportation Technologies.

On watch are Accuride's B corporate credit rating, B+ senior secured bank loan rating, B- second-lien rating and CCC+ subordinated rating and Transportation Technologies' B corporate credit and senior secured bank loan ratings and CCC+ second-lien and subordinated ratings.

S&P said the business profile for the combined operation is likely to be considered below average, albeit improved from the existing profile for each company, since the companies serve the medium- and heavy-duty truck markets and there should be some opportunities for cost savings.

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