Remy International, Inc. Announces S&P rating upgrade
PENDLETON, Ind., May 9, 2014 /PRNewswire/ -- Remy International, Inc. (NASDAQ: REMY) announced today that Standard & Poor's (S&P) Ratings Services has upgraded Remy's corporate credit rating from B+ to BB- on improved financial metrics. S&P cited, "Remy International, Inc.'s financial metrics continue to improve, reflecting its leading position in North America as a supplier of starters and alternators to original equipment manufacturers and the aftermarket."
"We are pleased that S&P recognized the significant progress Remy made in strengthening its cash metrics, acknowledged its leading market positions and supported its key growth strategies," said Jay Pittas, president and chief executive officer of Remy.
About Remy International, Inc.
Founded by the Remy Brothers in 1896, Remy International, Inc. is a leading global manufacturer and remanufacturer of alternators, starter motors and electric traction motors. Headquartered in Pendleton, IN, with global operations across five continents and 10 countries, Remy International markets products under the Delco Remy®, Remy®, World Wide Automotive® and USA Industries® brands. Known for innovation, efficiency, quality, and best-in-class customer service and support, Remy International's products are integrated by leading industrial, specialty, automotive and heavy-duty OEMs, and aftermarket providers worldwide. We Start the World & Keep It RunningTM.
Contact: Fred Knechtel, 765-778-6871, firstname.lastname@example.org
SOURCE Remy International, Inc.