S&P rates Remy loan B+

Standard & Poor's said it assigned a B+ corporate credit rating to Remy International Inc.

The outlook is stable.

S&P also assigned a B+ issue rating and 4 recovery rating to the company's $300 million term loan B.

The ratings reflect Remy's weak business risk profile and aggressive financial risk profile, the agency said.

The ratings also reflect the company's refinancing of its first-, second- and third-lien term loans with a new term loan B, its new asset-backed loan facility and its conversion of preferred stock into common stock through a rights offering, the agency added.

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