ArvinMeritor ratings affirmed by Moody’s

Action follows the company’s arrangement of a new bank term loan

ArvinMeritor Inc.’s plans to reset terms of its bank revolving credit facility and arranging a new bank term loan has prompted Moody’s Investors Service to affirm its ratings on the company. The rating agency has affirmed ArvinMeritor's corporate family rating at Ba2 and assigned Ba1 ratings to the company's US$1.05bn of new first lien bank debt. Moody's lowered the ratings on the company's existing senior unsecured notes issued under the company's "1998 Indenture" to Ba3.  The speculative grade liquidity rating was affirmed at SGL-2, representing good liquidity over the next 12 months. The outlook has been rated as negative.