Rochester, NY 7/10/2009 7:49:41 AM
After Hours Report - AXL - Amendment of Credit Agreement by American Axle & Manufacturing - Sourced WhisperFromWallStreet.com
American Axle & Manufacturing Holdings, Inc.
After Hours Report - AXL - Amendment of Credit Agreement by American Axle & Manufacturing - Sourced WhisperFromWallStreet.com
AMER AXLE&MFG HLDS,AXL
After Hours: 2.01 Up 0.06 (3.08%) 7:54PM ET
Reuters reported that American Axle & Manufacturing Holdings, Inc. amended a credit agreement but shares of the Company fell as investors worried about a continued risk of bankruptcy. American Axle said the new credit agreement provides a waiver of the financial covenants under its revolving credit facility through July 30 and the Company remained in talks with lenders to further modify the credit facility.
Last Trade: 1.95
Day's Range: 1.85 - 2.16
52wk Range: 0.26 - 8.73
Volume: 11,302,052
ABOUT
American Axle & Manufacturing Holdings, Inc., together with its subsidiaries, engages in the engineering, design, manufacture, and validation of driveline and drivetrain systems, and related components and chassis modules for automotive industry in the United States. The company?s driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels. These products comprise axles, chassis modules, driveshafts, power transfer units, transfer cases, chassis and steering components, driving heads, crankshafts, transmission parts, and metal-formed products. It offers these products for light trucks, sport utility vehicles, passenger cars, crossover vehicles, and commercial vehicles. American Axle & Manufacturing Holdings also involves in differential gear, hypoid pinion, and ring gear forging businesses. The company was founded in 1994 and is headquartered in Detroit, Michigan.
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