Moody's affirms Commercial Vehicle Group's B2 CFR, assigns B2 senior secured ratings; outlook stable
Rating Action: Moody's affirms Commercial Vehicle Group's B2 CFR, assigns B2 senior secured ratings; outlook stable. Global Credit Research- 29 Jun 2021. New York, June 29, 2021-- Moody's Investors Service, affirmed Commercial Vehicle Group, Inc.' s corporate family rating at B2 and the probability of default rating at B2-PD, assigned a B2 rating to its new senior secured first lien credit facilities and withdrew the B2 rating on the 1st lien bank credit facility due April 2023. The...Commercial Vehicle Group is a supplier of electrical wire harnesses, seating systems, and a range of cab related products for the global commercial vehicle markets, including the medium- and heavy-duty truck, medium- and heavy-construction vehicle, military, bus, agriculture, specialty transportation, mining, industrial equipment and off-road recreational markets. The company has two reportable segments: Electrical Systems, which includes electrical wire harnesses and panel assemblies, trim systems and components, cab structures and sleeper boxes, and mirrors, wipers and controls; and Global Seating, which includes seats and seating systems, office seating, and aftermarket seats and components.
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