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	<title>Stock Blog Hub &#187; American Axle &amp; Manufacturing</title>
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		<title>(AXL) Fitch Ratings Upgrades Auto Parts Suppliers</title>
		<link>http://www.stockbloghub.com/2009/08/24/axl-fitch-ratings-upgrades-auto-parts-suppliers/13228</link>
		<comments>http://www.stockbloghub.com/2009/08/24/axl-fitch-ratings-upgrades-auto-parts-suppliers/13228#comments</comments>
		<pubDate>Mon, 24 Aug 2009 20:40:02 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Auto Parts]]></category>
		<category><![CDATA[Consumer Goods]]></category>
		<category><![CDATA[American Axle & Manufacturing]]></category>
		<category><![CDATA[ARM]]></category>
		<category><![CDATA[ArvinMeritor Inc.]]></category>
		<category><![CDATA[AXL]]></category>
		<category><![CDATA[TEN]]></category>
		<category><![CDATA[Tenneco Inc.]]></category>
		<category><![CDATA[TRW]]></category>
		<category><![CDATA[TRW Automotive Holdings Corp.]]></category>

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		<description><![CDATA[Fitch Ratings revised the rating outlook from negative to Stable for auto-parts suppliers American Axle &#38; Manufacturing Holdings Inc. (AXL), Tenneco Inc. (TEN) and TRW Automotive Holdings Corp. (TRW). However, it retained a negative rating watch on ArvinMeritor Inc. (ARM). The international rating agency affirmed their current issuer default ratings of CCC for American Axle and ArvinMeritor and B-minus for Tenneco and TRW. Fitch expects American Axle to finalize an agreement with General Motors (GM), which will bring a one-time payment of $110 million from GM, who will also offer a $100 million term loan, extending through 2013. In return, American Axle will offer GM up to 19.9% of its equity as warrants. The company does not have any debt maturities until its $250 million term loan is due in ]]></description>
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		<title>(GM) Automotive Industry &#8211; Industry Outlook</title>
		<link>http://www.stockbloghub.com/2009/05/01/gm-automotive-industry-industry-outlook/6459</link>
		<comments>http://www.stockbloghub.com/2009/05/01/gm-automotive-industry-industry-outlook/6459#comments</comments>
		<pubDate>Fri, 01 May 2009 21:34:21 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Auto Manufacturers - Major]]></category>
		<category><![CDATA[Consumer Goods]]></category>
		<category><![CDATA[American Axle & Manufacturing]]></category>
		<category><![CDATA[AXL]]></category>
		<category><![CDATA[F]]></category>
		<category><![CDATA[Ford Motor Company]]></category>
		<category><![CDATA[General Motors Corporation]]></category>
		<category><![CDATA[GM]]></category>
		<category><![CDATA[LEA]]></category>
		<category><![CDATA[Lear Corp.]]></category>
		<category><![CDATA[Magna International Inc.]]></category>
		<category><![CDATA[MGA]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=6459</guid>
		<description><![CDATA[AUTOS: CHANGES TO COME The auto industry is on the verge of significant changes. CHRYSLER Chrysler filed for bankruptcy as debt holders rejected an offer to take a 15% stake in the restructured company. The Treasury reached a deal earlier this week with four banks that hold the majority of Chrysler&#8217;s debt in return for $2 billion in cash. However, 40 hedge funds that hold roughly 30 percent of that debt also needed to sign on for the deal to go through. The Treasury Department and the four banks tried to persuade the hedge funds to take a sweetened deal of $2.25 billion in cash. However, the deal ultimately fell through. An announcement of a merger with Fiat was made. Facilities will be temporarily shut until the deal is consummated. ]]></description>
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		<title>(ALV) Auto Industry &#8211; Industry Outlook</title>
		<link>http://www.stockbloghub.com/2009/03/10/alv-auto-industry-industry-outlook/4148</link>
		<comments>http://www.stockbloghub.com/2009/03/10/alv-auto-industry-industry-outlook/4148#comments</comments>
		<pubDate>Tue, 10 Mar 2009 17:55:36 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Auto Parts]]></category>
		<category><![CDATA[Consumer Goods]]></category>
		<category><![CDATA[ALV]]></category>
		<category><![CDATA[American Axle & Manufacturing]]></category>
		<category><![CDATA[AN]]></category>
		<category><![CDATA[Autoliv Inc.]]></category>
		<category><![CDATA[AutoNation Inc.]]></category>
		<category><![CDATA[AXL]]></category>
		<category><![CDATA[CarMax Inc.]]></category>
		<category><![CDATA[F]]></category>
		<category><![CDATA[Ford Motor Company]]></category>
		<category><![CDATA[General Motors Corporation]]></category>
		<category><![CDATA[GM]]></category>
		<category><![CDATA[KMX]]></category>
		<category><![CDATA[LEA]]></category>
		<category><![CDATA[Lear Corp.]]></category>
		<category><![CDATA[TRW]]></category>
		<category><![CDATA[TRW Automotive Holdings Corp.]]></category>

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		<description><![CDATA[OPPORTUNITIES The industry is very concentrated, with the top 8 global auto companies having more than 90% of global revenues and the top 50 global auto parts companies having 80% of global revenues (the top 4 US tire producers have 75% of the US market). There is a focus on automation and simplifying product lines to lower costs and benefit from economies of scale. The average car now needs only 15-25 man-hours per vehicle and this drops 2% annually. Hybrid/alternative cars represent a source of growth in the future. Market share gains by hybrids/alternatives will be slow, and they are now only 4% of cars on the road. The automakers have been receiving TARP funding from the Treasury to cover cash burn issues. The exact amount continues to be a ]]></description>
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